PETALING JAYA: Japanese insurance giant Tokio Marine Holdings Inc is in exclusive talks to buy out the general insurance business of RHB Bank Bhd.
Citing people familiar with the matter, Reuters said RHB, the fourth-largest banking group in the country, expects the property and casualty insurer to pay up to 3.5 times book value of the business or some US$500mil (RM2.025bil), making it possibly one of the most expensive non-life insurance deals in the South-East Asian region if the deal materialises.
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