KUALA LUMPUR: Alliance Bank Malaysia Bhd and its subsidiary Alliance Islamic Bank Bhd have entered into an exclusive 15-year partnership with Zurich General Insurance Bhd and Zurich General Takaful Bhd to establish general bancassurance and bancatakaful partnerships in Malaysia.
The partnership will see Alliance Bank and Alliance Islamic offering Zurich’s general insurance and takaful products at its branches.
According to Alliance Bank group CEO Joel Kornreich, the partnership will help to strengthen the bank’s capability to prove a comprehensive suite of solutions for its customers.
“This partnership is expected to generate RM200 million over the 15-year period,” he said.
At the signing ceremony today, Alliance and Zurich revealed that fire insurance would be the first product to be offered in May with more insurance and takaful products to be made available in the next six months.
