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Standard Chartered forms partnership with Ping An Life
By Hu Xiaocen |
17:06 UTC+8 January 24, 2013
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Online Edition
Online Edition
STANDARD Chartered Bank formed alliance with Ping An Life Insurance, the subsidiary of Ping An Insurance Group, in a bid to further expand its wealth management business and retail network, the lender said in a statement today.
The British lender will sell two Ping An's annuity insurance products in its branches, and it's the first time the bank has established a strategic partnership with a Chinese insurer, said the statement.
Before the alliance with Ping An, the lender has established cooperation with six foreign and joint venture insurers. The bank has currently bancassurance business in 16 cities in China, it said.
Standard Chartered Bank owns 100 outlets in Chinese mainland, the third-biggest branch network among foreign banks in the region after HSBC and Bank of East Asia.
The British lender will sell two Ping An's annuity insurance products in its branches, and it's the first time the bank has established a strategic partnership with a Chinese insurer, said the statement.
Before the alliance with Ping An, the lender has established cooperation with six foreign and joint venture insurers. The bank has currently bancassurance business in 16 cities in China, it said.
Standard Chartered Bank owns 100 outlets in Chinese mainland, the third-biggest branch network among foreign banks in the region after HSBC and Bank of East Asia.
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