7 October, 2017
Global law firm Clyde & Co has advised Chubb, on its entry into a bancassurance distribution arrangement with Singapore-headquartered DBS Bank Ltd.
The arrangement, grants Chubb the right to sell general insurance products to DBS clientele throughout Singapore, Hong Kong, China and Indonesia for a period of 15 years.
The move underscores the region’s growing attraction to insurers as rising standards of living generate demand for general insurance and brings together two organisations with a strong focus on digital distribution.
The Clyde & Co team which advised on the commercial agreements was led by corporate insurance Partner Kevin Martin (Hong Kong), in conjunction with insurance Partner Ian Roberts (Singapore).
Kevin comments: "This deal represents a significant partnership between two leading players in their respective markets. Both parties have a strong commitment to move to a more modern and digital distribution network."
Additional support was provided in Singapore by corporate insurance Partner Ian Stewart and Senior Associate Zihua Su; and in China by corporate insurance Partner Michael Cripps and Senior Associate Xiaolin Lin.
DBS was advised by Linklaters.
