Prudential, stanchart renew pact

It enables Prudential to market and distribute its investmentlinked, savings and protection insurance products to Standard Chartered cus¬tomers in Asia.

The new agreement extends the partnership to 2016.

The updated arrangement also broadens the markets covered to five, expanding beyond the original Hong Kong, Singapore and Malaysia mar¬kets to include Japan and Thailand.

Prudential and Standard Chartered also have separate ban¬cassurance arrangements covering China, Korea and Taiwan, bringing the total collaboration to eight mar¬kets across the region.

In addition to Prudential's life insurance products, the new agree¬ment includes deeper cooperation on accident and health policies as well as Takaful Islamic insurance products.

Commenting on the partnership, Steve Bertamini, Standard Chartered's group executive director and CEO for consumer banking, said: "The renewed partnership with Prudential and expansion of our relationship in Asia underlines our commitment to providing superior financial products to our customers."

Barry Stowe, chief executive of Prudential Corporation Asia, said: "We are very pleased to broaden and deepen our relationship with Standard Chartered Bank in Asia that began 10 years ago. The strength of our two brands and our shared expertise has benefited customers throughout the region."

Standard Chartered has opera¬tions in more than 20 markets in Asia. Prudential's insurance and fund management operations span 13 markets in the region.