KUALA LUMPUR: CIMB Group Holdings Bhd (CIMB Group) expects a healthy contribution to its insurance business on the back of the partnership with Japan-based Sompo Holdings (Asia) Pte Ltd. The two entities today launched its bancassurance partnership in Malaysia whereby CIMB will distribute Sompo’s non-life insurance solutions through its distribution network. CIMB Group chief executive officer (CEO) Tengku Datuk Seri Zafrul Aziz said the launch marks next level of the entities’ 15-year partnership from 2016. “The revenue target of RM1 billion is still intact and we are on track to achieve that,” said Samir, when asked. Sompo is the Southeast Asian holding company for Japan’s Sompo Japan Nipponkoa Insurance Inc.

Source: New Strait Times April 03, 2018 09:56 UTC