Tokio Marine in talks with RHB, could pay RM2bil for insurance arm

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. (File pic dated 21 Nov 2014 shows: Head of bancassurance at RHB Bank Patrick Cheah; Head of group retail banking, RHB Bank Charles Sik; Chief executive officer, Tokio Marine Life Toi See Jong; Deputy chief executive officer, Tokio Marine Life Akira Yoshikawa launched Essential FlexiLink which is a comprehensive regular premium investment-linked plan designed to provide protection for policyholders and their families at all stages of their lives.)

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.