Sun Life Malaysia said that it consists of Sun Life Malaysia Assurance Berhad and Sun Life Malaysia Takaful Berhad, the renamed CIMB Aviva Assurance Berhad and CIMB Aviva Takaful Berhad entities purchased by Sun Life Financial Inc. (Sun Life) and Khazanah Nasional Berhad (Khazanah) from Aviva International Holdings Limited and CIMB Group Holdings Berhad (CIMB Group).
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Under the new partnership, Sun Life Malaysia has the exclusive right to distribute takaful and life insurance products through CIMB Bank’s network of 312 branches and eight million customers across the country.
Commenting on the expansion, Sun Life Financial Asia president, Kevin Strain, said: "We are very excited to enter Malaysia, particularly with Khazanah and CIMB as our partners. The Sun Life Malaysia management team and employees are united in building a great organization that is focused on becoming a provider of choice amongst Malaysians, helping to protect their financial futures."
Sun Life Malaysia CEO, Ooi Say Teng, said: "With this collaboration, we aim to introduce a wider range of insurance solutions aimed at addressing the different needs of Malaysians and to deliver value and excellent service to our customers. Sun Life Malaysia is committed to provide best-in-class protection for Malaysian consumers and businesses of all sizes."
"We are rolling out new products that customers can buy with confidence and introducing new distribution channels that make it easier for customers to access our products at their convenience. Sun Life Malaysia’s products are now readily available at all CIMB branches across the country," Ooi added.
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