Friday 09 Aug 2024
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Oversea-Chinese Banking Corporation today announced the launch of a partnership between OCBC Bank (Malaysia) Berhad (OCBC Malaysia) and Great Eastern Life Assurance (Malaysia) Berhad in the area of bancassurance following the recent liberalisation of the financial services sector in Malaysia.

In this new partnership, OCBC Malaysia will distribute life insurance products developed by Great Eastern Life Assurance (Malaysia) through its 29 conventional banking branches.

The range of products selected for distribution will be assessed to ensure that they meet the different lifestyle and life stage needs of the Bank’s retail customers.

For a start, OCBC Malaysia will distribute MaxMoney Plus and MaxMoney Back which are two insurance products from GreatEastern Life Assurance (Malaysia).

This move is also in line with the banking group’s focus on seeking stronger growth opportunities and deepening market penetration in the country under its New Horizons II strategy.

Previous collaboration efforts between OCBC Bank (Malaysia) and Great Eastern Life Assurance (Malaysia) have been focused on the marketing of OCBC Bank (Malaysia)’s credit cards and home loans to the customers of Great Eastern Life Assurance (Malaysia).

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