- Sun Life Financial ( NYSE: SLF ) on Friday announced an exclusive 15-year bancassurance partnership between its Hong Kong unit and Dah Sing Bank.
- Sun Life Hong Kong will be the exclusive provider of life insurance solutions to Dah Sing Bank's 570K retail banking customers.
- The unit will pay HK$1.5B (~C$260M) for the exclusive arrangement, with potential variable payments to Dah Sing Bank based on the partnership's success.
- Distribution of Sun Life insurance products is expected to start in July.
- Sun Life Asia now has over 20 bancassurance partnerships in seven Asian markets.
- Read SA contributor Yannick Frey's bullish take on the insurer's stock .
For further details see:
Sun Life unit to be exclusive insurance provider for Dah Sing Bank customers in Hong Kong