British insurer Prudential has inked a bancassurance tie-up with the Thai arm of Malaysia’s CIMB.
Prudential Life Assurance (Thailand) – or PLT – has entered a bancassurance partnership with CIMB Thai, according to a statement. The latter lender is the Thai unit of Malaysian banking group CIMB.
This will allow Prudential to access CIMB Thai’s customer base and branch network in Thailand. The move to boost local scale is in line with the British insurer’s multi-market growth strategy announced in 2023.
«We are delighted to partner with a leading bank like CIMB Thai. PLT is already the third largest bancassurance player in the market and this partnership will further accelerate its growth plans,» said Dennis Tan, managing director, strategic business group.
