Prudential plc and Standard Chartered Bank mark the 25th anniversary of their strategic bancassurance partnership, a collaboration that spans 11 markets across Asia and Africa. This partnership, which began in 1998 and became operational in 1999, is recognized as one of the largest and most enduring pan-regional bancassurance franchises.
The alliance provides life and health insurance products to numerous consumers in regions including Hong Kong, Taiwan, Mainland China, Singapore, India, Malaysia, Indonesia, Vietnam, Ghana, Uganda, and Kenya. Over the past 25 years, it has maintained an average double-digit sales growth rate.
Lilian Ng from Prudential plc commented on the partnership's success: "Prudential’s DNA in bancassurance was pioneered in our strategic partnership with Standard Chartered Bank in 1998. The partnership has delivered substantial benefits to our customers and shareholders over the years; and is the longest and largest bancassurance franchise in Asia."
Dennis Tan also from Prudential plc added: “The business we have built together has achieved significant growth and provides a strong foundation for the future success of both partners.”
Samir Subberwal from Standard Chartered highlighted the benefits for clients: “This partnership with Prudential complements our strategy to support our clients through different stages of their wealth journey."
To commemorate this milestone, both companies hosted several events throughout 2024 with plans to continue into 2025. Activities included an anniversary celebration dinner in Hong Kong and sessions of Standard Chartered's International Golf Series held between May and October.