Standard Chartered Bank and Zurich Insurance Group have signed an exclusive decade long strategic partnership to offer life insurance.
As part of the agreement, Standard Chartered (SCB) will offer Zurich’s comprehensive life insurance policies to its customers in the United Arab Emirates (UAE) for the next 10 years.
«We are pleased to partner with Zurich to introduce best-in-class insurance solutions for our clients across the network in the Middle East» said Gautam Duggal, Regional Head of Wealth Management for Africa, the Middle East and Europe, SCB.
Fertile Markets
A survey released by Zurich in 2016 revealed that more than two-thirds (76 percent) of residents in the UAE do not have life insurance protection in place that would protect their family’s financial future in the event of the death of the primary salary earner.
Earlier this year SCB signed a long term deal with Allianz, for its retail banking clients in five key markets across Asia.
The two firms announced a 15-year bancassurance agreement for the distribution of Allianz’s general insurance products, including travel, personal accident, fire and motor insurance products.
