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  • STI Straits Times Index
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    19.4 (0.61%)
     
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News - Detailed News Story

Great Eastern

Stock Chart
Last Done 21.440
Change -0.060 (-0.28%)
Volume 10.6
Range 21.400 - 21.750

OCBC Bank

Stock Chart
Last Done 10.970
Change +0.120 (+1.11%)
Volume 5,757.1
Range 10.950 - 11.060

UOB

Stock Chart
Last Done 26.370
Change +0.530 (+2.05%)
Volume 3,784.1
Range 26.190 - 26.620

Prudential USD

Stock Chart
Last Done 16.000
Change - (-)
Volume -
Range - - -

DBS

Stock Chart
Last Done 25.820
Change +0.320 (+1.25%)
Volume 4,728.8
Range 25.660 - 26.000

DBS aims to double Singapore bancassurance clients in a few years

01 Jun 2019 09:00

By Lynette Tan

DBS wants to grow bancassurance revenues and double its Singapore clients to one million in the next few years, as the unit contributes more and more to the bank's wealth management business.

"We're looking at 30 per cent or so continuing growth. We've averaged that over the last several years and we expect that to continue," Richard Vargo, regional head of bancassurance at South-east Asia's largest lender, said at a media briefing on Thursday.

Last year, DBS' bancassurance business notched over S$1 billion of new life insurance premiums across its six markets including Singapore, a 36 per cent growth year on year.

In Singapore, its largest market, DBS plans to amass a million customers over the next three years, up from just over 500,000 customers now.


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Source: Business Times
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