bancassurance News

Singapore Lender UOB Reviews Non-Life, Life Bancassurance Businesses: Sources

Singapore lender United Overseas Bank Ltd. is reviewing its insurance business, including an existing partnership with Prudential Plc, after Southeast Asia witnessed a wave of lucrative distribution deals, people familiar with the matter said. UOB has been soliciting ideas from …

Citigroup’s Mexico Unit, Chubb Announce Bancassurance Distribution Agreement

Citibanamex, a subsidiary of Citigroup Inc., and Chubb Seguros México, an affiliate of Chubb Ltd., announced a definitive long-term agreement where Chubb will provide a range of non-life insurance products to Citibanamex’s consumer bank clients in Mexico, subject to regulatory …

ING, AXA Form Digital Bancassurance Partnership, Offering Cover in 6 Countries

ING and AXA announced a long term and exclusive, multi-country bancassurance partnership to provide insurance products and related services through a central digital insurance platform. Under the partnership, ING will provide its leading digital banking experience and AXA its expertise …

Allianz, UniCredit Form Bancassurance Partnership in Central & Eastern Europe (CEE)

Allianz Group and UniCredit have signed a long-term bancassurance cooperation agreement in the Central and Eastern Europe (CEE) region. With this agreement, which will gradually start in the second half of 2018, UniCredit will exclusively partner with Allianz to provide …

Chubb Appoints Lee as Head of Bancassurance for Asia Pacific

Chubb announced the appointment of Jin Lee as the head of Bancassurance for Asia Pacific. In her new role, Lee’s primary responsibility will be to oversee the DBS Bank-Chubb partnership which spans across Singapore, Hong Kong, Taiwan, Indonesia and China. …

Nippon Life Agrees to Buy 85% Stake in MassMutual’s Japan Unit for $980M

Nippon Life Insurance Co said on Friday it had agreed to buy an 85 percent stake in the domestic unit of U.S.-based MassMutual Financial Group for about 104.2 billion yen ($980 million) as it aims to boost its bancassurance sales. …

Bank Danamon Indonesia’s Insurance Unit ‘Attracts Interest’ From Foreign Suitors

PT Bank Danamon Indonesia, the nation’s fifth-largest lender by market value, is fielding interest from foreign suitors seeking a stake in its insurance subsidiary, people familiar with the matter said. Jakarta-based Danamon is working with an adviser as it weighs …

Deutsche Bank Forms Bancassurance Partnership with Digital Broker Friendsurance

Deutsche Bank and digital insurance broker Friendsurance have formed a partnership designed to make it simpler and more transparent and convenient for clients to arrange for their insurance needs. To drive this, Deutsche Bank said it will integrate Friendsurance’s digital …

Ageas Sells Stake in Italian Bancassurer CARGEAS to BNP for $213.6M

Brussels-based insurer Ageas on Dec. 29 completed the sale of its stake in Italian bancassurer Cargeas Assicurazioni (CARGEAS) to BNP Paribas Cardif, for €178 million (US$213.6 million) in cash. Ageas and BNP Paribas Cardif have operated CARGEAS as a joint …

Zurich’s Acquisition of ANZ Life Unit Designed to Boost Dividends

Zurich Insurance Group AG’s decision to acquire the life-insurance businesses of Australia & New Zealand Banking Group Ltd. should help Switzerland’s biggest insurer fulfill its ambition to increase its dividend. Already famous as a dividend stock, Zurich signaled last month …