FWD Life and KEB Hana Bank Sign Bancassurance Partnership

Driving up public awareness on the need for self-protection in the future, FWD Life and KEB Hana Bank offer insurance product with maximum protection and investment

JAKARTA, September 1, 2016 – PT FWD Life Indonesia (FWD Life) and PT Bank KEB Hana Indonesia (KEB Hana Bank) today announced a strategic partnership to develop a bancassurance offering through the launch of bancassurance product FWD Infinite Link, single premium unit-linked for KEB Hana Bank customers. In addition, it also launch mortgage credit life product.

This bancassurance partnership is part of FWD Life’s strategy to expand its distribution channels to reach more Indonesians. The Indonesian Life Insurance Association (AAJI) in its life insurance industry performance report for Q4 2015 stated that the life insurance industry remained steadfast amid unfavorable economic conditions, as reflected in the total continuance premium growth of 12.9% from the same period in 2014. This shows stronger consumer trust and awareness on the importance of having long-term financial planning, not only provided by banking products but also investment and protection products.

FWD Life Indonesia President Director Rudi Kamdani said, “We are excited to partner with KEB Hana Bank, as we both share the same values to always prioritizing our customers’ interests and satisfaction (customer-led approach) in providing products and services that can cater to customers’ needs.”

Furthermore, Rudi also explained that the partnership provides an opportunity for FWD Life to develop its bancassurance distribution channel. “FWD Infinite Link is our innovation to assist the public in preparing financial stability in the future and securing personal protection. Through this partnership. Through this partnership, FWD Life is able to expand our distribution reach, which in turn will support our aspiration to reach one million Indonesians by 2017.”

Lee Hwa Soo, KEB Hana Bank President Director said, “The partnership with FWD Life through FWD Infinite Link will strengthen our bancassurance product options, as well as expand access to scores of financial products and services in accordance with customers’ risk appetite and needs. This is in line with KEB Hana Bank’s commitment to assist customers in protecting their assets and long-term investment returns, allowing customers to live their life according to their passion.” He further added, “Our tie-up with FWD Life will also provide more bancassurance products, especially for our Priority Banking customers.”

This partnership comes together at the perfect time, as the Indonesian economy regains its strength and the middle-class and upper-middle class continue to grow year to year. The Central Bureau of Statistics (BPS) data showed that the Indonesian economy grew 5.18 percent in Q2 2016, an increase from the growth of the previous quarter (Q-on-Q) of 4.91 percent, which exceeded many analysts’ expectations. The national economy’s growth in the first half of 2016 was pegged at 5.04 percent, also exceeded the economic growth in Q2 2015 of only 4.66 percent.

FWD Infinite Link Product Offers Competitive Advantages
FWD Infinite Link is a single premium unit-linked product providing life and death insurance benefits and optimal investment return with minimum premium of Rp 100 million. The product offers a number of attractive advantages to KEB Hana Bank customers. One of which is 100% single premium allocation into investment with a loyalty bonus of between 1-3 percent of the average investment value at the end of the seventh policy anniversary and every 5th year thereafter.

FWD Infinite Link product provides two investment options; First, FWD World Equity Fund, a long-term investment through investment in equity funds that gives exposure to both onshore and offshore equity market. Secondly, the FWD Asia Fixed Income Fund investment option which offers investment portfolio allocation in bond market traded domestically and on bond market in Asia, with the exception of Japan.

Moreover, customers are given the flexibility of making withdrawals, transfers and top-ups, as well as the ease of choosing and altering investment fund allocations. FWD Infinite Link customers will be entitled to life insurance protection up to 100 years of age with death and accidental death benefits.

KEB Hana Bank Funding and Wealth Management Business Division Head, Gempur Eskandaru Widansyah said, “We are pleased to be able to partner with FWD Life and we are targeting to receive more fee-based income this year from bancassurance business after securing deals with several insurance companies. Besides, the partnership with FWD Life also reflects KEB Hana Bank’s commitment to consumer banking and wealth management segment as well as achieve the company’s vision to become Top 20 banks in Indonesia by 2020."

On the same occasion, FWD Life Chief of Partnership Distribution Anggi Sangadi said that the partnership with KEB Hana Bank will expand the company’s reach to the public in socializing the importance of insurance and significantly widen the bancassurance network in Indonesia. “Expanding the bancassurance distribution channel to obtain a wider reach is one of our priorities, and we are proud to be able to form this partnership with KEB Hana Bank. Through FWD Infinite Link product, we are offering protection and optimal investment return for KEB Hana customers. In addition to FWD Infinite Link, we also offering mortgage credit life product. We fervently hope that this partnership will be able to bring the two companies together in a shared vision and commitment to provide the best service in its class. Moving forward, we hope to be able to continue developing a solid and successful partnership with KEB Hana Bank,” Anggi concluded.


About PT FWD Life Indonesia (“FWD Life”)
FWD Life Indonesia (“FWD Life”) is a joint-venture insurance company and a member of FWD Group. Products offered include unit-linked insurance, individual & group term life insurance, individual & group personal accident insurance, and group medical insurance through technology driven-distributions such as agency, bancassurance, e-commerce and corporate.

In addition to Indonesia, FWD Group spans Hong Kong & Macau, Thailand, and the Philippines, offering life and medical insurance, employee benefits, and general insurance across a number of its markets. Established in Asia in 2013, FWD is the insurance business arm of investment group, Pacific Century Group.

FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by leading digital technologies. Through this customer-led approach, FWD will achieve its vision to become the leading pan-Asian insurer that changes the way people feel about insurance.

FWD Life is registered with and supervised by Otoritas Jasa Keuangan (OJK). For further information, please visit WWW.FWD.CO.ID.

For further information, please contact:
FWD Life
Duhita Rahma Mahatmi (Gandis), Corporate Communications
Telp: (+62) 1 500 393
Email: duhita.mahatmi@fwd.com

Tentang PT Bank KEB Hana Indonesia:
PT Bank KEB Hana Indonesia (Bank KEB Hana), merupakan Bank hasil merger antara PT Bank Hana dengan PT Bank KEB Indonesia, berdasarkan Keputusan Dewan Komisioner Otoritas Jasa Keuangan No. 13/KDK.03/2014 tanggal 27 Juni 2014. Bank KEB Hana mengawali bisnis di Indonesia dengan nama PT Bank Hana usai mengakuisisi PT Bank Bintang Manunggal di tahun 2007 dengan aset senilai Rp 300 milyar. Kini Bank KEB Hana telah berhasil meningkatkan asetnya hingga Rp 30,9 triliun pada akhir Juni 2016 (unaudited).

Bank KEB Hana memiliki komitmen untuk selalu memberikan layanan finansial yang mengutamakan kenyamanan para nasabahnya demi mewujudkan visi menjadi The Best Customer Focused Bank di Indonesia. Saat ini, Bank KEB Hana memiliki lebih dari 1015 tenaga profesional di bidangnya serta senantiasa meningkatkan pelayanan berbasis teknologi informasi, inovasi produk berdasarkan kebutuhan nasabah dan penambahan jaringan kantor cabang hingga lebih dari 100 kantor cabang selama tiga tahun mendatang.

Dengan adanya sinergi dan dukungan dari Hana Financial Group sebagai salah satu perusahaan finansial terbesar dan terkemuka di Korea Selatan yang menempati posisi ke-82 Top Global Finance pada tahun 2015 berdasarkan total aset dengan jaringan global di 24 negara menurut majalah The Banker, Bank KEB Hana berkomitmen untuk fokus di segmen korporasi, usaha kecil menengah dan ritel serta memiliki visi untuk menjadi jajaran Top 20 Bank di Indonesia pada 2020.

Bank KEB Hana terdaftar dan diawasi oleh Otoritas Jasa Keuangan (OJK). Untuk informasi lebih lanjut, silakan kunjungi www.kebhana.co.id

Kontak Media:
Rizki Maradhano
Corporate Communication Unit Head
PT Bank KEB Hana Indonesia
T: (62-21) 522 0222
E: rizki.maradhano@kebhana.co.id