AIA enters into strategic Bancassurance partnership with DFCC

AIA CEO Pankaj Banerjee and DFCC CEO Arjun Fernando with their senior management after the signing of the partnership agreement

AIA Insurance Lanka Plc has entered into an exclusive, long-term, strategic Bancassurance partnership with DFCC Bank Plc, marking another key milestone in the AIA-DFCC relationship. 

The partnership is intended at offering DFCC’s customers a range of innovative savings and protection products and services along with the best of AIA’s experience and expertise in Asia. 

“As a pioneer of Bancassurance in Sri Lanka, the strategic partnership with DFCC Bank reiterates AIA’s focus on providing multiple access points to Sri Lankan customers that will enable them to get convenient and required financial advice on their protection, long-term savings and retirement planning needs. Our partnership with DFCC Bank underlines our joint commitment to providing easily accessible superior products and services to the customers of DFCC Bank,” said AIA Sri Lanka Chief Executive Officer Pankaj Banerjee.

Director of Partnerships for AIA, Amal Perera added: “Our partnership with DFCC commenced as a distribution arrangement in 2014 and has now evolved to a strategic 20-year partnership. This progression is evidence not only of the mutual commitment between the two parties but also of the great potential of Bancassurance in Sri Lanka. 

DFCC Chief Executive Officer Arjun Fernando commented: “We are delighted to enter into a strategic partnership with AIA Insurance, a globally accomplished insurance provider. The partnership will result in increased value for our customers and reflects our commitment towards them. It will ultimately accelerate our joint strategic objectives, enabling us to serve the customer better and achieve growth.”

DFCC Bank Assistant Vice President Bancassurance, Sajith Silva, emphasised: “With our customers at the core of everything we do, this partnership once again reiterates our commitment to offering them the best banking services. We are now strongly positioned to deliver financial solutions with protection under one roof.” 

AIA is the world’s second-largest insurer by market capitalisation and Asia’s leading life insurer. The AIA group meets the savings and protection needs of individuals by offering a choice of solutions including retirement savings plans, life insurance, accident and health insurance.  

DFCC Bank Plc, renowned as a national icon, is a fully-fledged dynamic commercial bank. The bank has been rapidly growing its footprint across the country and is connected to the LankaPay Common ATM Switch, enabling accountholders to access over 3,500 ATMs island-wide and perform zero cost cash withdrawals and balance inquiries via connected banks. DFCC Bank Plc is rated AA- (lka) by Fitch Ratings Lanka Ltd.