AIA Group Signs Bancassurance Pact With Bangkok Bank

By Gaurav Raghuvanshi Features Dow Jones Newswires

AIA Group Ltd. (1299.HK) said Thursday it has tied up with Bangkok Bank PCL (BBL.TH) to sell its insurance products in Thailand.

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Bangkok Bank, Thailand's biggest lender by assets, will exclusively sell AIA's insurance products for 15 years, the Hong Kong-listed insurance firm said. The deal, however, excludes some endowment savings and credit-life products, the statement said.

The partnership will start in the first half of next year. The AIA statement didn't disclose the financial terms of the deal.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

(END) Dow Jones Newswires

October 12, 2017 07:09 ET (11:09 GMT)