Malaysia’s RHB Bank Bhd. is asking financial advisers for proposals for its partnership to sell insurance in its branches, as its deal with an arm of Japan’s Tokio Marine Holdings Inc. is set to expire at the end of next year, according to people with knowledge of the matter.
The so-called bancassurance partnership with Tokio Marine Life Insurance Malaysia Bhd., whose parent has kicked off a process to sell its life insurance business in Southeast Asia, includes both conventional and Islamic life insurance, the people said. A deal could be worth more than 1 billion ringgit ($213 million), the people said, asking not to be identified as the process is private.
