AIA Group Signs Bancassurance Pact With Bangkok Bank
AIA Group Ltd. (1299.HK) said Thursday it has tied up with Bangkok Bank PCL (BBL.TH) to sell its insurance products in Thailand.
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.
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(END) Dow Jones Newswires
October 12, 2017 07:09 ET (11:09 GMT)