24 Sep Insurance Distribution Agreement
Insurance Joint Ventures Insurance Sales and Commercial Contracts Regulation and Governance Employment, Engagement and Equality Regulation of Insurance and Financing Services “This regional agreement with HSBC is an excellent opportunity for the alliance to strengthen our leadership position in life and pension products as well as long-term savings products in the market,” said Oliver Bäte, member of the Board of Directors of Allianz SE. Under the DLI, consumers and retail investors who purchase insurance products benefit from the sale of insurance products in the EU through the Insurance Distribution Directive (IDD) adopted in 2016. The IDD applies to all sellers of insurance products: our versatile team handles a wide range of business agreements for clients in the insurance and financial services sectors, from day-to-day commercial contracts to strategic distribution operations. Joining this regional partnership is part of the global relationship between Allianz and HSBC. The alliance has a wide range of distribution agreements with HSBC in Asia, including life and health insurance, credit insurance and asset management in China, Indonesia, Malaysia, Australia, Sri Lanka, Brunei, the Philippines and Taiwan. Large UK insurer – Preparing a number of precedents and claims management agreements, insurance distribution involves selling, offering, advising or otherwise preparing for the conclusion of insurance contracts. This local bancassurance agreement, which requires administrative authorisation, is expected to be finalised in the first half of 2013. We are regularly asked to assist customers in the areas of product distribution, including partnerships, bancassurance and white labeling, as well as other terms and conditions. Many of our team members have worked or been seconded to the in-house legal function of an insurance, brokerage or financial services company and are familiar with the challenges faced by individuals in the industry. We understand business perspectives and we know how to provide our clients with practical, clear and business advice.