Alliance Bank, Manulife Malaysia renew another 15-year bancassurance partnership

KUALA LUMPUR: Alliance Bank Malaysia Bhd (Alliance Bank) and Manulife Insurance Bhd (Manulife Malaysia) have extended their bancassurance partnership for a further 15 years.

This extension reaffirms both organisations' strengths to offer financial solutions and increase protection benefits for the bank's customers.

Alliance Bank group chief executive officer Kellee Kam said the bank's longstanding partnership with Manulife Malaysia better supports its customers' health, protection, and investment needs. 

"The renewed focus will see us further tapping into our partner's insurance expertise and resources to offer more 

experiences, products, and digital solutions for Alliance Bank customers," he said in a statement. 

Alliance Bank and Manulife Malaysia have partnered to offer innovative insurance and wealth management solutions since 2013. 

In the next 15 years, Alliance Bank will continue distributing Manulife Malaysia's life insurance products, enabling it to drive growth for its fee-based income.

Manulife Malaysia chief executive officer Vibha Coburn said this extension is an important milestone for Manulife Malaysia and Alliance Bank, as it reaffirms the success both entities have had over the past 10 years. 

"Built on a solid foundation, this partnership reaffirms our commitment to giving more Malaysians greater access to the right information, advice, solutions, and positive customer experiences," she said.

This partnership extension represents a strong alliance driven by a shared commitment to empowering Malaysians with holistic wealth and protection solutions. 

By leveraging their respective expertise, both organisations are set to remain adaptable and responsive to the evolving financial landscape, delivering value to Malaysian customers.