Standard Chartered join hands with IGI Life and EFU Life for Bancassurance.

Standard Chartered Bank (SCBPL) signed a memorandum of understanding with EFU Life Assurance Limited and IGI Life Insurance Limited whereby these partner companies will deploy dedicated sales staff at Standard Chartered branches for cross selling of insurance solutions to the Bank's client base. This alliance is a response to the ever-evolving needs of the clients and is expected help support the Bank's goal towards providing a full suite of wealth management services.

The signing ceremony was attended by Standard Chartered Pakistan's CEO - Rehan Shaikh, Head CPBB - Saadya Riaz, and Head Wealth Management - Kailash Kumar, along with Taher Sachak, CEO EFU Life Assurance Limited, Mohammed Ali Ahmed, Deputy Managing Director EFU Life, and Ali Nadim Deputy CEO IGI Life Insurance Limited with their respective teams.

Rehan M. Shaikh, CEO Standard Chartered Pakistan commented, "Through the deepening of this relationship between the Bank and insurance providers, we aim to improve product awareness, especially among the financially marginalised segments of society. We believe in creating value and convenience for our clients and continue to provide cutting-edge financial solutions. We at the Bank expect synergistic enhancements to result from this deepened partnership and are optimistic that it will help drive the Bank's insurance business into a new era."

The CEOs of both insurance companies also emphasised the benefits of this partnership with Standard Chartered, and the potential opportunity available to all three organisations with the launch of...