FWD Insurance partners with Bank Simpanan National for bancassurance offerings

FWD Insurance joins forces with Malaysia's oldest bank, which has 387 branches and serves nine million customers.

FWD Insurance Berhad and Bank Simpanan Nasional (BSN) have entered into a distribution agreement, effective January 2024, allowing FWD Insurance to offer exclusive life insurance products to BSN customers.

As BSN's sole conventional life insurance partner, FWD Insurance joins forces with Malaysia's oldest bank, which has 387 branches and serves nine million customers.

The agreement was signed by leaders from both organisations and aims to enhance Malaysians' access to affordable and relevant insurance options through BSN's extensive network and skilled advisors.

ALSO READ: FWD HK sees Q3’23 new business climb 25% YoY

This collaboration builds on FWD's growth in Malaysia's life insurance sector, which began with its 2019 entry into the market and continued with the acquisition of Gibraltar BSN in April 2023.

FWD Insurance provides a range of solutions, including micro-insurance for low-income groups and credit life insurance for BSN loan customers.

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