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Prudential Life Assurance (Thailand) has entered into a strategic bancassurance partnership with TMB Bank to provide its suite of health and wealth solutions to TMB's large and growing customer base.
With an initial term of 15 years, the new agreement significantly expands and extends Prudential's partnership with Thanachart Bank to TMB Bank, which, following their merger, is the sixth largest bank by deposits and fourth largest bank by branches in Thailand.
Thailand is the second largest life insurance market and the largest mutual fund market in ASEAN and has significant growth potential.
It also deepens the strong relationship with TMB established through Prudential's joint venture asset management partnerships, where Prudential has a 12 per cent share of the Thai mutual fund market.