Singapore's DBS and Canada's Manulife kicked off their 15-year bancassurance agreement by announcing plans to strengthen their electronic distribution platform.
The insurer has been striving to replace Jonathan Hekster as head of distribution partnership for Asia after he was promoted for his role in the bancassurance tie-up with DBS Bank.
The firm is striving to get its funds on more bank platforms in Hong Kong, and Myles Morin is leaving the territory to head a similar effort in Canada.
As part of the deal, the UK group will buy the Singaporean bank's life insurance arm.
The Chinese insurer pays $2.65 billion to become the largest shareholder in Fortis in a deal which both parties are calling highly synergistic.
The worldÆs local bank signs MOU with two Indian banks to develop a life-insurance business.