Under the bancassurance deal, Bank of China will provide its Malaysian customers with access to Zurich’s full range of financial products.
Trevor Bull, Zurich Insurance Malaysia chief executive said the memorandum of understanding between Zurich and Bank of China will enable both parties to “expand their footprint in the Malaysian market”.
“Through our combined efforts and commitment, we will be able to achieve more and be able to continue to develop a distribution model and propositions that align with Bank of China’s overall strategy," Bull said.
In September 2011, Zurich completed the acquisition of Malaysian Assurance Alliance Berhad, a Malaysian composite insurer.
With over 40 years of experience in the Malaysian market, Zurich operates 39 branches nation-wide and offers a vast range of general and life insurance solutions through its 5,400 tied life insurance agents and 3,000 multi-tied general insurance agents.
