HR NEWS

Zurich Life Singapore hands over business portfolio to Singapore Life

Zurich Life Singapore hands over business portfolio to Singapore Life

Singapore Life, the nation’s newest life insurer, has and Zurich Life Insurance (Singapore) (Zurich Life Singapore) have announced an agreement for Singapore Life to acquire the business portfolio of Zurich Life Singapore.

According to a press statement, this agreement makes Singapore Life responsible for all Zurich Life Singapore’s customers’ policies, totalling approximately SGD6 billion of coverage for life, critical illness and disability benefits.

The transfer of policies is expected to be completed in the first half of 2018, subject to confirmation by the High Court.

All policyholders who transfer to Singapore Life will continue to have the existing terms and conditions of their policies upheld and will enjoy the same service level as existing Singapore Life customers – including 24/7 access to their policies online. At the same time, all existing relationships between customers and their financial advisers will be maintained. Customers who are impacted will receive further information from both companies regarding the personal details of their transfer in early 2018.

The agreement follows Zurich Life Singapore’s closure to new business in December 2015 and does not affect any of Zurich’s other life or commercial Insurance businesses in Singapore, including Zurich International Life (Singapore Branch) and Zurich Insurance Company (Singapore Branch).

Source: Human Resources Online

9 months ago

By HR Reporters


Social Share : Share      

Comments.....

Submit new comment

Most Viewed

World’s 500 richest people have lost combined 107 billion USD this week...

7 months ago

More baby girls than boys die in India, says UNICEF report...

7 months ago

"Gulf 23" kicks off with superb inaugural ceremony ...

10 months ago

AK Chaudhary to take over as SAIL chief...

7 months ago

Argos drivers’ strike over holiday pay and overtime called off - UK HR News...

2 years ago

Intel appoints Prakash Mallya as MD, South Asia...

2 years ago

24 unbelievable excuses employees have given for skipping work...

2 years ago

Microsoft co-founder Bill Gates hails India’s expertise in public health but cal...

5 months ago

Poor dental health ups frailty risk in older men, says study...

9 months ago

South East Central Railway Recruitment 2018: Applications invited for 329 posts ...

2 months ago

Most Shared

Mass redundancies for Quebec cookie factory...

2 years ago

Trump this: 5 bold predictions for how he’ll impact HR...

2 years ago

InfoTycoon appoints existing President and COO Kevin George to succeed James Dav...

2 years ago

Sushant Dwivedy joins Aspiring Minds as SVP-Enterprise Client Solutions...

2 years ago

Uber introduces special reward programme...

2 years ago

Standard Chartered Bank to reduce 10% corporate & institutional banking staff...

2 years ago

National CineMedia (NCM) creates Affiliate Partnerships team, names Stacie Tursi...

2 years ago

OCC Names New CFO, Treasurer, and Chief Compliance Officer...

2 years ago

Beards at work are now a major turn-off say 61% of female office workers...

2 years ago

First female fast jet pilot of Britain hired as director at PwC...

2 years ago