Skrine is pleased to share that we advised Syarikat Takaful Malaysia Keluarga Berhad (“STMKB”) and Syarikat Takaful Malaysia Am Berhad (“STMAB”) on their entry into a 20-year exclusive bancatakaful partnership with RHB Islamic Bank Berhad (“RHB Islamic”).
 
The bancatakaful arrangement forms part of the bancassurance and bancatakaful partnership between RHB Bank Berhad (“RHB"), and its wholly-owned subsidiary, RHB Islamic, Tokio Marine Life Insurance Malaysia Bhd (“Tokio Marine Life”), STMKB and STMAB, and involves a RM1.6 billion access fee in favour of RHB. These partnerships are formalised through separate distribution agreements as well as the Framework Agreement entered into by all parties whereby Tokio Marine Life has been appointed as RHB’s exclusive bancassurance partner, while STKMB and STMAB have been appointed as RHB Islamic’s exclusive bancatakaful partners. The partnership model is the first-of-its-kind in the Malaysian insurance/takaful market.
 
The Skrine transaction team was led by Partner, Fariz Abdul Aziz, who was supported by Associate, Siti Sarah Iskandar. Competition law support was led by Partner, Tan Shi Wen, supported by Associate, Lee Li Zhu.
 
News reports on the transaction can be accessed at:
 
https://theedgemalaysia.com/node/765004
https://www.msn.com/en-xl/news/other/rhb-signs-bancassurance-deals-with-tokio-marine-life-takaful-malaysia/ar-AA1JUCfG
https://www.reuters.com/en/rhb-bank-seals-20-year-insurance-bancatakaful-deals-with-tokio-marine-takaful-2025-08-01/