View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
  2. Company news
January 4, 2018

DBS and Chubb sign 15-year bancassurance partnership

Singapore’s DBS Bank and insurer Chubb have signed a bancassurance agreement to distribute home, contents and selected personal accident and supplemental health (A&H) insurance products as well as general insurance products for SMEs.

Effective 1 January 2018, the insurance distribution partnership will be valid for a period of 15 years and will cover Singapore, Hong Kong, China and Taiwan.

The bancassurance partnership in Indonesia will be launched at a later date, subject to regulatory approval.

Under the terms of the agreement, the lender will distribute Chubb insurance products to its six million retail, wealth and SME customers through a network of more than 200 branches as well as via its digital banking platforms.

DBS Bank deputy group head of consumer banking and wealth management Pearlyn Phau said: “This partnership represents the coming together of two leading organisations, combining DBS’ superior Asian banking franchise with Chubb, the world’s largest publicly traded property and casualty (P&C) insurance company and a global leader in general insurance and reinsurance.

“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 for DBS.”

Chubb country president in Singapore Adam Clifford said: “This strategic partnership provides significant growth opportunity in bancassurance for Chubb and DBS. With our extensive product and digital capabilities, as well as best-in-class service standards, we hope to deliver the Chubb brand promise of excellence to all of DBS’ customers in Singapore.”

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Life Insurance International