DBS and Chubb ink 15-year regional distribution dealSeptember 29 2017 by InsuranceAsia News Staff
DBS and Chubb have signed a 15-year regional distribution partnership agreement covering Singapore, Hong Kong, Taiwan, Indonesia and China.
Under the terms of the deal, DBS will distribute Chubb’s coverage for home, contents and selected personal accident and supplemental health insurance products as well as general insurance products for SMEs, on an exclusive or preferred basis.
“Insurance is an important part of our overall customer value proposition and we are delighted to partner with Chubb,” said Tan Su Shan, group head of consumer banking and wealth management at DBS.
“Chubb’s track record in delivering digital innovation, collaborating with partners and offering a suite of market leading products across multiple customer segments makes them an ideal partner.”
The agreement will take effect in early 2018 and roll-out is expected progressively through 2018.
- June 5
The HK major announced the acquisition of Australia's Commonwealth Bank's division in 2018.
- March 19
FWD will leave its agreement on April 1 after a period of heavy expansion in Thailand.
- November 27
Asean president Leo Grepin says the deal with TP Bank will provide access to 2.5m customers.
- November 15
The bank, which is going through a merger, is looking into its agreements, including with FWD.