Standard Chartered and Zurich sign 10-year exclusive UAE distribution agreement
Standard Chartered Bank and Global insurer Zurich Insurance Group (Zurich) announced the signing of an exclusive strategic partnership.
Standard Chartered will offer Zurich’s comprehensive life insurance solutions to its customers in the United Arab Emirates (UAE) for the next 10 years. This agreement is designed to deliver quality insurance products with greater value and service to UAE customers. It will help raise awareness on the importance of protection and will bring quality products closer to the customer.
“We are pleased to partner with Zurich to introduce best-in-class insurance solutions for our clients across the network in the Middle East. Thanks to this agreement, our clients in the UAE will now have better access to high quality, tailored life insurance products and services that suit their savings and protection needs,” said Gautam Duggal, Regional Head of Wealth Management for Africa, the Middle East and Europe–Head of Wealth Management for the UAE, Standard Chartered Bank.
While signing the distribution agreement, Walter Jopp, CEO of Zurich Middle East said he was delighted to formalise our cooperation with Standard Chartered in the UAE. “The bank’s focus on customer centricity, paired with Zurich’s long standing expertise in the region, will allow us to fulfil customers’ financial needs. Zurich is a global insurance leader and in the UAE we have been offering financial solutions to customers through distribution partners for almost 30 years. This agreement underlines Zurich’s continued commitment to the region and reinforces its market leading position.”
A survey released by Zurich in 2016 revealed that more than two-thirds (76 per cent) of residents in the UAE do not have life insurance protection in place that would protect their family’s financial future in the event of the death of the primary salary earner.