SINGAPORE - DBS Bank and Chubb accept entered into a 15-year bounded accepted allowance administration affiliation acceding in Singapore, Hong Kong, China and Taiwan.
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The acceding was able from Monday (Jan 1).
DBS will distribute, on an absolute or adopted basis, Chubb's advantage for home, capacity and called claimed blow and added bloom (A&H) allowance articles as able-bodied as accepted allowance articles for baby and medium enterprises (SMEs).
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The barrage of a co-operation acceding in Indonesia will arise at a after date, accountable to authoritative approval, said the partners.
Through this bounded accepted allowance tie-up, DBS's six-million retail, abundance and SME barter will accretion admission to Chubb's apartment of products, beyond the bank's arrangement of over 200 branches as able-bodied as via its agenda cyberbanking platforms.
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In exchange, DBS's agenda platforms will advice Chubb aggrandize its administration beyond key Asian markets.
Pearlyn Phau, DBS Bank's agent accumulation arch of chump cyberbanking and abundance management, said: "Chubb's clue almanac in carrying agenda innovation, accommodating with ally and alms a apartment of bazaar arch articles beyond assorted chump segments makes them an ideal accomplice for DBS."
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Paul McNamee, Chubb's bounded admiral for Asia Pacific, said: "We allotment (with DBS) agnate agenda ambitions and the affiliation provides a acceptable cardinal fit with Chubb's advance affairs in the region."
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