(Hong Kong, 22 July 2014) - At a ceremony held in Hong Kong, Prudential Hong Kong Limited ("Prudential") and Standard Chartered Bank (Hong Kong) Limited celebrated a 15-year extension to the pan-Asian bancassurance agreement between Prudential plc and Standard Chartered plc ("Standard Chartered") where Prudential life insurance products will be distributed through Standard Chartered branches in 11 Asian markets, including Hong Kong.
The new agreement is an extension to a previous relationship which began in 1998 and has become one of the most successful and enduring pan-regional bancassurance partnerships in Asia.
Mary Huen, Head of Retail Clients, Hong Kong, Standard Chartered Bank (Hong Kong) Limited, said: "Standard Chartered and Prudential have together built a successful bancassurance business which has lasted generations. This has been made possible not only through products and services excellence, but even more importantly through our brand promise, ‘Here for good'. By always putting our customers first, we will continue to successfully grow and safeguard our customers' wealth while leading the market in terms of discipline and service delivery."
Derek Yung, Chief Executive Officer of Prudential said: "Prudential is a pioneer of the multi-channel financial services model, consistently offering the people of Hong Kong a wide variety of access points to life's essential financial products."
We are excited at the possibilities offered by our renewed agreement, allowing both parties to further leverage common service goals with our commitment to provide the best insurance solutions that meet customers' protection needs, supported by best-in-class service."
Special note to the editor:
Prudential plc (英國保誠集團), was established in the United Kingdom in 1848 and is headquartered in London. With its affiliated companies in the UK, the US and Asia, it constitutes one of the world's leading financial services groups.
Prudential plc is not affiliated or related in any manner with Prudential Financial, Inc. (保德信金融集團), a company whose principal place of business is in the United States.
You and your reporters are cordially reminded to clearly differentiate between the two companies in your news reporting.
Executive Management from Standard Chartered and Prudential toasted at the ceremony.
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