MNRB Holdings Berhad has secured approval from Bank Negara Malaysia (BNM) for its proposed acquisition of an 80% stake in Labuan Reinsurance (L) Ltd (Labuan Re) for a total cash consideration of US$100.69 million (approximately RM400.49 million).
MNRB said BNM, through a letter dated August 21, 2026, approved the acquisition under Section 85(1)(a) of the Financial Services Act 2013.
The approval, however, is subject to MNRB obtaining the necessary regulatory approval from the Labuan Financial Services Authority (Labuan FSA).
The latest development follows MNRB’s earlier announcements on May 19, June 16, August 6 and August 14, 2026, relating to the proposed acquisition.
The transaction involves MNRB acquiring an 80% equity interest in Labuan Re for US$100,689,242.02, equivalent to approximately RM400.49 million.
MNRB did not provide further details in the latest announcement on the timeline for completing the acquisition, pending the remaining regulatory approval from Labuan FSA.
The acquisition remains subject to the fulfilment of the applicable regulatory requirements before completion.
