CMB Wing Lung Bank Limited and FWD Insurance sign bancassurance agreement – Macau Business

Posted: April 11, 2022 at 5:54 am

CMB Wing Lung Bank Limited and FWD Insurance have signed a bancassurance partnership in Macau to provide insurance products and services.

Bancassurance isan arrangement between a bank and an insurance company allowing the insurance company to sell its products to the banks client base.

Both sides also considered that thepartnership will provide a competitive advantage to both companies in capturing the vast opportunities in the fast-growing market of the Greater Bay Area

The new partnership with FWD will enrich our insurance productsandservice scope for Macau residents who constantly look for more innovative and comprehensive options. We believe the partnership will also further strengthen CMB Wing Lung Banks advantage in GBA cities, the banks Deputy General Manager, Li Qi, said in the announcement.

CMB Wing Lung Bank is a subsidiary of China Merchants Bank Co., Ltd. (CMB), a bank based in Shenzhen and the first share-holding commercial bank to be wholly owned by corporate legal entities in China upon its founding in 1987.

At present, the Bank has over 30 banking business outlets and CMB Wing Lung Private Banking Centre in Hong Kong, its service outlet network also covers mainland China, Macau and overseas, more than 2,000 people in its staff force.

Meanwhile, FWD Hong Kong & Macau are part of the FWD Group, a pan-Asian life insurance business offering life and medical insurance, employee benefits, and financial planning.

Follow this link:

CMB Wing Lung Bank Limited and FWD Insurance sign bancassurance agreement - Macau Business

Related Posts