MAN­ULIFE SIGNS BAN­CAS­SUR­ANCE AGREE­MENT WITH AL­LIANCE BANK PART­NER­SHIP TO CON­TRIB­UTE UP TO 30 PER CENT OF MAN­ULIFE’S NEW BUSI­NESS PRE­MI­UMS

Insurance - - COMPANY CORNER -

Source: Money Com­pass, 12 Septem­ber 2013 Man­ulife In­surance Ber­had (Man­ulife Malaysia) and Al­liance Bank Malaysia Ber­had (Al­liance Bank) signed a strate­gic ban­cas­sur­ance agree­ment that will see Al­liance Bank dis­trib­ute Man­ulife Malaysia’s suite of life in­surance prod­ucts through its net­work of over 90 branches, serv­ing the Bank’s con­sumer base of more than one mil­lion cus­tomers. It is a 10-year agree­ment that is ex­pected to help Al­liance Bank pro­vide a com­pre­hen­sive suite of prod­ucts, pro­tect­ing their cus­tomers’ long-term fi­nan­cial well­be­ing. It is also ex­pected to con­trib­ute up to 30 per cent of Man­ulife Malaysia’s new busi­ness pre­mi­ums and help the com­pany build scale and di­ver­sify its chan­nel mix. The part­ner­ship will also con­trib­ute to Al­liance Bank’s fee-based in­come.

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