Fidelity Bank, Prudential Life Insurance to extend bancassurance deal by 10 years
Fidelity Bank Ghana Limited, the largest private indigenous bank in Ghana and Prudential Life Insurance Ghana, a leading insurer, have announced a ten-year extension to their exclusive bancassurance agreement, started in 2015.
The ten-year exclusive strategic bancassurance agreement with the two market leaders aims at growth in the financial sector.
A news brief made available to the Ghana News Agency said by combining Prudential’s globally trusted insurance expertise and best-in-class products with Fidelity’s customer-focused approach, strong distribution network and talented banking professionals, the extended partnership would continue to deliver comprehensive savings, protection and health solutions to more than one million Fidelity customers.
“Prudential and Fidelity have already demonstrated that when two of Ghana’s leading financial services organisations come together, they can deliver huge benefits to customers. We’re excited to build on the success of our partnership to date, through our multi-channel approach, innovative products, and distribution expertise to serve the savings, protection, and health needs of all Fidelity customers,” said Matt Lilley, CEO, Prudential Africa.
Emmanuel Mokobi Aryee, CEO of Prudential Life Insurance Ghana said: “We are delighted to extend our mutually successful strategic partnership with Fidelity. We have demonstrated our strengths to deliver insurance protection tailored to our customers’ needs. We look forward to continuing to work with Fidelity, securing a safer future for our customers in Ghana.”
Julian Kingsley Opuni, Managing Director of Fidelity Bank noted that: “Fidelity is excited to be extending our partnership with Prudential. As a customer-centric organization, our focus is on delivering superior banking products and services to our customers. Signing this extension with Prudential is further evidence of our commitment to provide our customers with exceptional products and services that extends beyond their traditional banking needs.”
Nana Esi Idun-Arkhurst, Divisional Director, Retail Banking at Fidelity Bank said, “the partnership with Prudential allows Fidelity to provide our diverse base of customers with the necessary benefit of insurance cover across the broad spectrum of our products.”
She further commented that “the extended partnership incorporates technological innovations that are in line with Fidelity’s digital transformation agenda to provide added value and convenience to our customers.”
Fidelity Bank Ghana is the largest privately-owned Ghanaian bank and the 4th largest in terms of assets and deposits. The Bank has two subsidiaries: Fidelity Asia Bank Limited and Fidelity Securities Limited. It currently has seventy-five branches, about 2000 agents, and over 114 ATMs nationwide with its brand promise of “Together We’re More.”
Prudential Life Insurance Ghana is a top-five life insurance company in Ghana. It employs approximately 100 staff, has over 1,900 agents with over two million customers. It is a wholly-owned subsidiary of Prudential Plc.
Prudential has insurance operations in eight countries in Africa and with approximately 500,000 customers, Prudential Africa works with over 10,000 agents and six exclusive bank partnerships, with access to over 600 branches, to bring value-added insurance solutions to customers.