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UOB and Prudential renew, expand regional strategic bancassurance alliance

Stanislaus Jude Chan Published on Thu, Jan 10, 2019 / 3:14 PM GMT+8

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SINGAPORE (Jan 10): United Overseas Bank (UOB) and Prudential have signed an agreement to renew their strategic regional bancassurance arrangement, extending the alliance by 15 years up to 2034.

The new agreement also increases the geographical scope of the alliance to include a fifth market, Vietnam. The strategic bancassurance arrangement currently covers Singapore, Malaysia, Thailand and Indonesia.

Under the arrangement, UOB will distribute Prudential's life insurance products to its consumer banking customer base in the five markets.

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UOB and Prudential renew, expand regional strategic bancassurance alliance