RHB Banking Group (RHB) entered into bancassurance and bancatakaful partnerships with Tokio Marine Life Insurance Malaysia and its takaful partners - Syarikat Takaful Malaysia Keluarga, and its wholly owned subsidiary, Syarikat Takaful Malaysia.
These partnerships are formalised through separate Distribution Agreements - between RHB Bank and Tokio Marine Life, and between RHB Islamic and Takaful Malaysia, as well as the framework agreement entered into by all parties.
The exclusive Distribution Agreements will be for a period of 20 years commencing 1 August 2025, at a total access fee payable to RHB of up to MYR1.6bn (378m). The total access fee reflects the projected insurance and takaful business volume that RHB is expected to generate over the tenure of the distribution agreements, including anticipated sales of products through RHB's network of branches and digital channels. These will contribute positively to RHB’s profit before tax.