Striving to Insure More People, Allianz Indonesia Announces Partnership with QNB Indonesia
Jakarta, 17 March 2020 – PT Asuransi Allianz Life Indonesia (Allianz Life Indonesia) and PT Bank QNB Indonesia Tbk (QNB Indonesia) have officially formed a strategic partnership deal to provide more people with insurance products through the bancassurance distribution channel. Allianz Life Indonesia will now become the official provider of life insurance products and services for QNB Indonesia’s customers for the next 10 years.
To kick off the partnership, QNB Indonesia commenced the distribution of unit link life insurance products provided by Allianz Life Indonesia effectively since February 24, 2020. The Bank’s personal banking customers can now access the insurance products offered by Allianz Life Indonesia at 19 QNB Indonesia’s branches across Indonesia.
“With our partners, Allianz Life Indonesia always aims to fulfill the needs of various customer segments. Our partnership with QNB Indonesia combines the strengths of our two distinct brands. We are unified in a shared aspiration to insure more people, especially customers of QNB Indonesia,” said Joos Louwerier, Country Manager and President Director Allianz Life Indonesia.
To mark its commitment to the strategic partnership, Allianz Life Indonesia and QNB Indonesia launched two unit link life insurance products, First InvestShield and First LifeShield. Both products offer comprehensive protection, as well as opportunity for the Bank’s customers to benefit from appealing investment growth.
First InvestShield is a unit linked single-premium life insurance product designed for customers who opt for comprehensive protection for themselves, their family members and their assets. First LifeShield is a unit linked regular-premium life insurance product that offers comprehensive protection, completed with optional benefits of insurance riders that may be selected according to customer preferences. The two products also offer variety of Allianz unit linked funds, both in IDR and USD.
“QNB Indonesia has served the Indonesian market for more than 100 years and our commitment remains the same, which is to provide comprehensive financial products and services that are in line with our customers’ needs. The past year the Bank has been focused on strengthening its foundations to better serve the Indonesian market and to continue to grow our presence here. At the heart of that is continuing to provide innovative products and services to our customers.” said Stewart Hall, President Director QNB Indonesia. “The strategic partnership with Allianz Life Indonesia delivers on that objective through the launch of the First InvestShield and First LifeShield products. The Allianz partnership through such products enables the Bank to continue to provide value added solutions to our customers while growing the Bank’s business here in Indonesia,” ended Stewart.
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About Allianz in Indonesia
Allianz started its operations in Indonesia with a representative office in 1981. In 1989, Allianz established
PT Asuransi Allianz Utama Indonesia, a general insurance company. Furthermore, Allianz entered the Indonesian life and health insurance market, as well as pension fund by opening PT Asuransi Allianz Life Indonesia in 1996.
In 2006, Allianz Utama and Allianz Life started sharia insurance business.
Supported by more than 1,300 employees and a network of more than 20,000 sales professionals as well as bank partners and other distribution channels. Today, Allianz in Indonesia is one of the leading insurance groups in the market trusted to protect more than 7 million insured.
About Allianz in Asia
Asia is one of the core growth regions for Allianz, characterized by a rich diversity of cultures, languages and customs. Allianz has been present in the region since 1910, when it first provided fire and marine insurance in the coastal cities of China. Today, Allianz is active in 14 markets in the region, offering its core businesses of property and casualty insurance, life, protection and health solutions, as well as asset management. With its more than 32,000 staff, Allianz serves the needs of over 18 million customers in the region across multiple distribution channels and digital platforms.
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing over 673 billion euros on behalf of its insurance customers. Furthermore our asset managers PIMCO and Allianz Global Investors manage an additional 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2018, over 142,000 employees in more than 80 countries achieved total revenues of 130.6 billion euros and an operating profit of 11.5 billion euros for the group.
About QNB Indonesia
PT Bank QNB Indonesia Tbk was established in Medan in 1913 under the name NV Chunghwa Shangyeh Maatschappij which later in 1965 changed its name to PT Bank Kesawan. The Bank moved its headquarters to Jakarta in 1990. In 2011, the Bank strengthened its capital structure through the Right Issue that made Qatar National Bank (Q.P.S.C.) or QNB Group as the controlling shareholder and later changed its name to PT Bank QNB Kesawan Tbk.
The Bank made a major transformation in its name and logo on 5 November 2014; from PT Bank QNB Kesawan Tbk changed to PT Bank QNB Indonesia Tbk. Currently, the Bank has 19 branches spread across Indonesia and is supported by more than 100,000 ATM Bersama and PRIMA network. In 2018, through Right Issue VI ownership of QNB Group shares rose to 92.48%. The Indonesian Securities Agency (PEFINDO) assigned a rating of "idAAA" to PT Bank QNB Indonesia Tbk until 1 April 2020.
About Qatar National Bank Q.P.S.C. (QNB Group)
Qatar National Bank (Q.P.S.C.) or QNB Group was established in 1964 as the country’s first Qatari-owned commercial bank, with an ownership structure split between the Qatar Investment Authority (50%) and 50% held by members of the public. In 2020, Brand Finance named Qatar National Bank (Q.P.S.C.) as the most valuable banking brand in the Middle East and Africa with value of USD 6.0 billion. QNB Group also established a foothold in a highly competitive market within its 2020 vision: to become a leading bank in the Middle East, Africa and Southeast Asia.
Qatar National Bank (Q.P.S.C.) presents in more than 31 countries spanning across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 29,000 operating through 1,100 locations, with an ATM network of more than 4,300 machines to serve 25 million customers.
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