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DBS overtakes long-time leader OCBC in bancassurance

It claims a 35% market share after doubling its sales force in 6 years, pipping the 14-year stalwart's 29%

In April, DBS signed with Manulife a 15-year bancassurance partnership and expects insurance sales to reach half a billion dollars in a few years. DBS's current partnership with Aviva expires at the end of 2015.


INSURANCE sales in Singapore hardly make the headlines but last week's bombshell by DBS that it became the number one bancassurance bank in Q1 2015 had everyone sitting up. Not least OCBC Bank, which pioneered the business and had hogged the top position for 14 years.