FWD Life Insurance Public Company Limited (“FWD”) and TMB Bank Public Company Limited (“TMB”) today announced the renewal of their bancassurance collaboration for an initial term of 15 years, effective from 1 January 2017.
FWD will gain access to TMB’s distribution network and work together with TMB to develop and provide innovative life insurance products that meet the needs of TMB customers.
“We are proud to renew our bancassurance collaboration with TMB,” said Huynh Thanh Phong, FWD Group Chief Executive Officer. “The early renewal agreement demonstrates the strong synergies, mutual trust and deep relationships between FWD and TMB, further building on the key strengths of both companies. We are truly excited about the prospects of this long-term collaboration with a progressive partner in TMB.”
FWD is pleased to be able to deepen its commitment to Thailand and expects to seek continued support from the Office of Insurance Commission for the renewal, as it continues to pursue its vision to change the way people feel about insurance.
As part of the process, FWD was advised by Deutsche Bank, HSBC, Standard Chartered and Slaughter and May.