Jul 01 2010

Qatar: Allianz Takaful in tie-up with Standard Chartered

DOHA: Allianz Takaful yesterday announced an exclusive 5-year partnership with Standard Chartered Bank to promote and sell its insurance products under Standard Chartered Bank 's 'Bancassurance' portfolio.

The major player in the insurance segment and Standard Chartered Bank jointly announced a sales agreement to promote insurance products from Allianz Takaful in Qatar.

Under the 5-year exclusive agreement, Standard Chartered Bank will promote and sell Allianz Takaful 's life insurance portfolio comprising plans for protection, savings, investment and child education. The products will be available to Standard Chartered Bank customers under an array of Bancassurance investment-cum-insurance products.

Dr Abdulrahman Khalil Tolefat, Chairman of Allianz Takaful said of the partnership, "We are proud to associate with one of the oldest and leading multinational banks in Qatar to sell our Insurance products.

" Standard Chartered Bank enjoys a large and growing customer base which is an ideal match for our Insurance plans and services. We are looking forward to another mutually beneficial relationship with Standard Chartered Bank in the region after having successfully launched in Bahrain last year."

The products are now available at Standard Chartered Bank branches across Qatar. Customers can avail the services at Standard Chartered Bank 's Relationship Managers to tailor make Allianz Takaful products to suit their specific insurance requirements, he added.

David Godwin, Chief Executive Officer of Standard Chartered Bank Qatar said Allianz is a major global financial services provider and the bank is pleased to associate with the group's subsidiary in the Middle East. "By working in collaboration with third party expertise, we are able to broaden our portfolio of products with a best-in-class offer to address the whole range of our customers' financial well-being objectives," he said.

"Additionally, the general insurance services fit well as one of the wealth protection tools that complement the Bank's overall wealth management solutions."

He pointed out that customers' needs are becoming increasingly more sophisticated and service providers such as banks and insurance companies need to find ways to provide comprehensive and flexible solutions to meet these requirements.

Standard Chartered's Bancassurance is an investment-cum-insurance package that consists of three different plans for Savings, Child Education and Retirement.

Savings Plan helps to fulfill customers' future financial goals and Child Education Plan helps in planning children's future education and meeting the increasing educational costs. Retirement Plan is specially designed to help accumulate wealth and to enjoy a peaceful retirement life without worries. Bancassurance Plans are designed with three investment strategies that are tailored to match the customers' risk-taker profile.

© The Peninsula 2010

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