Prudential, Bank Syariah partner for bancassurance offering

Starting in early 2025, Prudential will provide products to BSI customers.

Prudential announced a long-term bancassurance partnership between its subsidiary, PT Prudential Sharia Life Assurance, and Bank Syariah Indonesia (BSI). 

Starting in early 2025, Prudential will provide Syariah life insurance products to BSI’s customers, whilst BSI will market, promote, and distribute these offerings.

BSI, Indonesia’s largest Syariah bank and the sixth-largest bank overall by assets, has a customer base exceeding 20 million and operates more than 1,000 branches nationwide. 

With approximately 84% of Indonesia's 280 million population identifying as Muslim, the market presents a significant opportunity for Syariah financial services.

Solmaz Altin, Managing Director of Prudential’s Strategic Business Group, emphasised the importance of the partnership with BSI, highlighting Indonesia as a key growth market for the company. 

Anil Wadhwani, CEO of Prudential, pointed to the company’s bancassurance expertise and its focus on building long-term value through this collaboration.