OCBC ROLLS OUT NEW INSURANCE PRODUCTS

Malaysia-based OCBC Bank has expanded its portfolio of insurance products, unveiling the first product to result from its recent partnership agreement with medical insurer Pacific Insurance, a hospitalisation and surgical insurance product called Medi-Pac. OCBC chief executive Datuk Slbert Yeoh said the roll out of Medi-Pac was likely to be followed by more new products as the bank sees to exploit its new partnership and offer more insurance options for its customers, including the development of its Bancassurance business which has raised over 1bn ringgit in the last two years. Pacific Insurance chief executive Sonny Tan said that the alliance with OCBC would enable it to increase its access to customers by virtue of OCBC’s 25 branches nationwide.