Bangkok Bank (BBL), the country's largest bank by assets, has entered into a 15-year bancassurance agreement with AIA Group Ltd, a move enabling the bank's branches to offer AIA life insurance products.
The partnership involves all of BBL's distribution channels throughout the country, including the nationwide network of 1,200 branches and the bank's self-service outlets.
"Our customers are seeking a range of different insurance products and services to help them build their wealth, save for the future and protect their families," said BBL president Chartsiri Sophonpanich. "We will use our joint expertise to help Bangkok Bank's customers find the best financial solutions for every stage of their lives. Through this collaboration, we will be able to offer a broader range of insurance and savings products and services to meet our customers' needs."
Bangkok Life Assurance will continue to offer certain products to BBL customers.
In a growing trend, Thai banks are letting outside insurance firms distribute products at bank outlets.
