Standard Chartered PLC (Standard Chartered or the Group) and Prudential (Prudential) have entered into a new agreement expanding the term and geographic scope of their strategic pan-Asian bancassurance partnership. The new 15 year agreement, which covers 11 markets and will commence on July 1, 2014, deepens a relationship that was first established in 1998, and has become the most successful and enduring pan-regional bancassurance partnership in Asia.
Under the terms of the new agreement, a wide range of Prudential's life insurance products will be exclusively distributed through Standard Chartered branches in 9 markets - Hong Kong, Singapore, Indonesia, Thailand, Malaysia, the Philippines, Vietnam, India and Taiwan - subject to applicable regulations in each country. In China and South Korea, Standard Chartered will distribute Prudential's life insurance products on a preferred basis.
