Insurance major Allianz Takaful and Standard Chartered Bank have announced a five-year sales agreement to promote insurance products from Allianz Takaful in Bahrain.

As part of the deal, the bank will promote and sell Allianz Takaful's life insurance portfolio comprising features like protection, savings, investment and child education.

These products will be available to the bank's customers under the array of 'Bancassurance' products.

Allianz Takaful chief executive Dr Abdulrahman Khalil Tolefat said the bank's customer is a potential and ideal target segment for their products.

'We hope to tap into this segment with the support of the efficient sales support offered by them.'

He said the products are now available at Standard Chartered Bank branches across Bahrain.

Bank chief executive Jonathan Morris said by working in collaboration with third-party expertise, the bank is able to broaden its portfolio of products with a best-in-class offer to address the whole range of our customers' financial well-being.

'Our customers' needs are becoming increasingly more sophisticated and service providers such as banks and insurance companies need to find ways to provide comprehensive and flexible solutions to meet these ever changing requirements,' he said.-TradeArabia News Service