Allianz Renews Strategic Bancassurance Partnership with HSBC for Asian Markets for 15 Years to 2036

- 11 July 2022 17:36 WIB
Allianz Tower in Jakarta, Indonesia. (Photo courtesy of Allianz)
Allianz Tower in Jakarta, Indonesia. (Photo courtesy of Allianz)

JAKARTADAILY.ID – Financial services and insurance company Allianz announced that it has renewed its partnership with the Hongkong and Shanghai Banking Corporation (HSBC) related to the distribution of bancassurance for Asian markets.

In a statement sent to on Monday, July 11, 2022, PT Asuransi Allianz Life Indonesia said Allianz Asia Pacific agreed to extend collaboration with HSBC related to bancassurance distribution for 15 years to 2036.

Anusha Thavarajah, Regional CEO, Allianz Asia Pacific, said Allianz feels "honored" to extend and strengthen its cooperation with HSBC.

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"In the last few decades, we have expanded successful global partnerships for bancassurance. This has led to exponential growth in terms of volume and value," Thavarajah said in the statement.

He added that Allianz believed that the partnership will give benefits to its customers as the insurance company, along with partners offered sustainable financial planning focusing on wealth management, protection, and health.

"We will continue to innovate in technology and products to offer the best services and solutions through one of the strongest banking platforms in the region," Thavarajah said.

David Nolan, Country Manager & President Director Allianz Life Indonesia, said the insurance company considers HSBC is the leader in wealth management in Indonesia.

"We are really happy to continue our partnership so that we can protect more people in Indonesia in the future. The distribution networks for bancassurance product from Allianz Life Indonesia has expanded strongly in the last 20 years and we have provided a number of insurance-related solutions," Nolan said.

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Allianz started its businesses in Indonesia through its representative office in 1981. In 1989 it established PT Asuransi Allianz Utama Indonesia, a general insurance company before it tapped into life insurance, health, and pension funds businesses in 1996 by founding PT Allianz Life Indonesia.

In 2006, Allianz Utama and Allianz Life started sharia insurance businesses. Allianz Indonesia now employs more than 1,000 employees and is supported by more than 40,000 marketers and helped by a number of banking partners, including HSBC.

Today, Allianz has recorded more than 10 million policyholders in Indonesia.

Allianz-HSBC partnership


Editor: Suksmajati Kumara


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