International law firm Freshfields Bruckhaus Deringer has advised Manulife Financial Asia Ltd on its entry into a bancassurance distribution arrangement with DBS Bank Ltd.
The arrangement, which takes effect on 1 January 2016, grants Manulife the exclusive right to sell insurance and wealth management products to DBS clientele throughout Singapore, Hong Kong, China and Indonesia for a period of 15 years.
The Freshfields team which advised on the commercial agreements was led by Asia regional managing partner Robert Ashworth.
Mr Ashworth commented: ‘This deal represents a substantial landmark in Asia’s expanding insurance sector. As the region continues to become more affluent, demand for sophisticated insurance and wealth products will increase accordingly. This significant long-term relationship positions both parties to seize opportunities in Asia for years to come.’
In addition to Mr Ashworth, IP and IT advice was provided by head of the firm’s Asia intellectual property practice, Richard Bird.
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