Thailand: Siam Commercial Bank in bancassurance deal with Prudential Life
Source: Asia Insurance Review | Feb 2018
Siam Commercial Bank (SCB), the longest established bank in Thailand, and Prudential Life Assurance (Thailand), a subsidiary of UK-based Prudential, have agreed to establish a bancassurance partnership to jointly develop and provide insurance solutions for SCB’s wealth segment customers.
The partnership, which took effect on 1 February 2018, will provide SCB’s customers with access to Prudential Thailand’s range of unit-linked products through the bank’s licensed financial advisers.
SCB, established in 1906, and Prudential Thailand will initially offer three-unit linked products with both Regular and Single Premium options, to serve the protection, savings and investment needs of the bank’s wealth segment customers.
Ms Salisa Hanpanich, Executive Vice President of First Division and Segment Management Division for SCB, said: “Customers in this segment are looking for investment products that provide them with an opportunity to get higher returns than deposits, and at the same time get protection for the peace of mind of their families.” A