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DBS said to tap Goldman Sachs to help find insurance partner in India, Taiwan

Bloomberg
Bloomberg • 2 min read
DBS said to tap Goldman Sachs to help find insurance partner in India, Taiwan
DBS already has a bancassurance partnership with Toronto-based Manulife Financial for markets including China, Hong Kong, Indonesia and Singapore. Photo: Bloomberg
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DBS Group Holdings is considering forming insurance partnerships in India and Taiwan to expand its services in the region, according to people familiar with the matter. 

The Singapore-based lender is working with Goldman Sachs Group as an adviser on potential bancassurance agreements for those markets, the people said, asking not to be identified because the deliberations are private.

In bancassurance, an insurer typically pays upfront for exclusive rights to sell its products in bank branches.

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