The Zurich arm of the Swiss Zurich insurance group has agreed a 10 year “exclusive’ deal with the Standard Chartered banking group to provide Standard Chartered’s United Arab Emirates clients with life insurance products.
In a statement, Walter Jopp, chief executive of Zurich Middle East, said the deal would “formalise our cooperation with Standard Chartered in the UAE”.
He noted that Zurich has been providing its products to UAE clients for almost 30 years.
Gautam Duggal, Standard Bank’s regional head of wealth management for Africa, the Middle East and Europe and head of its UAE wealth management business, added that the new distribution agreement would give Standard Bank’s clients in the Emirates “better access to high quality, tailored life insurance products and services that suit their savings and protection needs”.
Standard Chartered is headquartered in the UK, but makes most of its sales and earnings in Asia, the Middle East and Africa. Its shares are listed on the Hong Kong and Indian stock exchanges in addition to the London Stock Exchange.