Standard Chartered is reportedly mulling whether to invite bids from insurers to distribute insurance products throughout bank branches in Asia.
BusinessTimes reports that the bank is working with JP Morgan Chase & Co on the bancassurance deal with potential partners set to pay at least US$400 million for access to the regional network.
Standard Chartered has hundreds of branches across Asia with more than 1,200 global branches in 71 countries.
The rumoured Standard Chartered plans mirror those of Asian bank CIMB Group who
signed a “strategic partnership” with insurer Sompo Japan which will see the Group step-up its bancassurance offering to customer throughout ASEAN.
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