MNRB Holdings Berhad (KLSE:MNRB) entered into a conditional share purchase agreement to acquire 80% stake in Labuan Reinsurance (L) Ltd from a group of shareholders for approximately MYR 400 million on May 19, 2026. A cash consideration of MYR 400.49 million will be paid by MNRB Holdings Berhad. As part of the consideration, MYR 400.49 million is paid towards the common equity of Labuan Reinsurance (L) Ltd. The total consideration is subject to adjustment. MNRB Holdings Berhad?s wholly-owned subsidiary Malaysian Reinsurance Berhad already holds 20% equity stake in Labuan Reinsurance (L) Ltd. The transaction will be financed through internally generated funds of MYR 150.49 million and borrowings of MYR 250 million. As of June 16, 2026, MNRB Holdings Berhad (KLSE:MNRB) submitted its application to BNM for its approval in relation to the Proposed Acquisition.

The transaction is subject to approval by regulatory board / committee and approval of offer by acquirer board. The expected completion of the transaction is by Q4 2026.

QuantePhi Sdn Bhd and Affin Hwang Investment Bank Berhad acted as financial advisors for MNRB Holdings Berhad.