October 26, 2016, Phnom Penh, Cambodia – Manulife Cambodia and CIMB Bank today signed a bancassurance agreement that will enable Manulife to provide a wide range of savings and protection products to cover the financial needs of the Bank’s customers across the country. This agreement is Manulife Cambodia’s fifth bancassurance partnership since it began operations in Cambodia in June 2012.
“Having a strong partner like CIMB Bank, a subsidiary of CIMB Group which is a leading ASEAN universal bank and one of the largest Asian investment banks, will improve the synergies between Manulife and the Bank as well as all our bancassurance partners in Cambodia. This bancassurance partnership will help Manulife to reach out to more customers by providing our innovative world-class solutions including income protection, childrens’ education, savings and retirement,” said Robert Elliott, Chief Executive Officer and General Manager of Manulife Cambodia.
“As we embark on this new relationship, we hope that our shared commitment, respect and understanding between two organisations will form the foundations for a long-lasting and mutually beneficial future together. We look forward to working with Manulife to provide new and innovative insurance products to fulfill the needs of our customers. And we hope too, to provide CIMB’s wide range of banking solutions and our regional services to Manulife’s valued customers,” said Mr. Bun Yin, Chief Executive Officer of CIMB Bank PLC.
“Through its strong service proposition, CIMB Bank prides itself on not only being a financial services provider, but also a true business partner to assist customers in making the right financial and investment decisions in life,” he added.
Established in 2010, CIMB Bank PLC has built a strong presence in Cambodia. In response to a growing demand from its customers across Cambodia, the Bank offers a wide range of banking products and services including retail, commercial and Corporate & Transaction banking.
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 as well as expand its existing successful relationship with all the partnered banks in Cambodia.
Effective immediately, CIMB Bank’s customers will be able to discuss their financial goals and purchase Manulife’s savings and protection products and solutions through Manulife Insurance Specialists working at all 12 branches, located in Phnom Penh, Siem Reap, Preah Sihanouk, Battambang and Kampong Cham province.