March 18, 2016, Phnom Penh, Cambodia – Manulife Cambodia and ABA Bank signed a bancassurance agreement that will enable Manulife to sell life insurance solutions to the bank’s customers across the country. This agreement is Manulife Cambodia’s third bancassurance partnership since it began operations in Cambodia in June 2012.
“We are delighted to join hands with ABA Bank, one of the leading banks in the Kingdom, to help families in Cambodia achieve their dreams and aspirations. This bancassurance partnership will enable Manulife Cambodia to reach out to more customers, and provide financial advice and solutions including income protection, childrens’ education and savings,” said Robert Elliott, Chief Executive Officer and General Manager, Manulife Cambodia.
“Today, we proudly announce our partnership with Manulife, one of the world’s leading life insurance providers. We believe that this cooperation will strengthen the bancassurance distribution capabilities of Manulife Cambodia, as well as help our customers achieve their financial goals,” said Askhat Azhikhanov, Chief Executive Officer of ABA Bank.
Bancassurance is a key part of Manulife’s strategy in Asia. It deepens and diversifies its distribution capabilities, and complements the company’s strong agency channel. Through this partnership, Manulife will further strengthen its brand, market position and customer base in Cambodia.
Effective immediately, ABA Bank’s customers will be able to discuss their financial goals and purchase Manulife’s products through Manulife financial advisors working at 11 ABA branches. These outlets comprise eight branches in Phnom Penh – Head Office branch, Mao Tse Toung branch, Teuk Thla branch, Central branch, Borei Keyla branch, Central Market branch, Toul Kork branch and Stade Chas branch, and three provincial branches in Siem Reap, Battambang and Sihanoukville.