Allianz and Standard Chartered Bank announce bancassurance agreement
Financial community Allianz and international banking group Standard Chartered Bank today announced a 15-year bancassurance agreement for the distribution of Allianz’s general insurance products, including travel, personal accident, fire and motor insurance products, to Standard Chartered’s Retail Banking clients in five key markets across Asia – Hong Kong, Singapore, Malaysia, Indonesia and China – in 2017.
“Bancassurance is a key focus for Standard Chartered, as we continue to innovate and expand our offerings that meet the evolving needs of our clients in branches and online,” said Karen Fawcett, CEO, Retail Banking, Standard Chartered Bank. “Through this partnership, we combine the expertise of one of the world’s leading insurance companies with our extensive distribution network, including our leading digital banking channels, to offer our retail banking clients convenient access to quality solutions for their protection needs.”
George Sartorel, Regional CEO, Asia Pacific, Allianz, commented: “We are excited at the opportunity to bring our best-in-class insurance solutions and leading digital technology to serve the needs of Standard Chartered’s customers in Asia. This partnership also builds on our shared commitment towards the growth and development of the Asia region, which is in line with Allianz’s ambitions to expand our presence regionally, and to drive greater value for our customers and employees.”