Alliance Bank Malaysia Bhd (Alliance Bank) has entered into a strategic bancassurance partnership with Prudential Assurance Malaysia Bhd (PAMB) which would enable the company broaden its range of wealth management products and services.
The partnership would also allow both banks to identify market opportunities and to promote a range of insurance products among customers, Alliance Bank said in a statement today.
Under the bancassurance arrangement, which took effect July 1, 2010, Alliance Bank would distribute PAMB's innovative array of protection, retirement, children's education saving and health insurance products through more than 90 Alliance Bank's branches and non-branches across the country.
Liew Swee Lin, Alliance Bank's Executive Vice President, Head of Consumer Banking was quoted as saying that the opportunity would enhance the bank's capability to deliver the best product to suit customers' financial needs.
"It is the value of being prudent that both Alliance Bank and Prudential believe that encompasses the spirit of well-being within the hearts of the community that we live and work in.
"We had invited Prudential to collaborate with us not only because of its strong brand image but also because of its vast experience in the industry with impressive diversity of innovative products that matches those in our portfolio," Liew added. -- Bernama
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