This ground-breaking innovation opened opportunities and paved the way for a number of Bancassurance partnerships between banks and insurance companies, thereby reaching hitherto untapped customers and providing tailored services.

When Sanlam Emerging Market sold its minority stake in Enterprise Life to Blackstar Holdings Limited in 2017, it became expedient for Enterprise Life and SCBG to review their relationship, following which they mutually agreed not to renew the Bancassurance Contract when it expires on 31^st May 2018.

Speaking to the development, the General Manager of Operations for Enterprise Life, Francis Akoto-Yirenkyi, said, “in the period of the EL-SCBG partnership, thousands signed unto our Bancassurance package. We assure policyholders that the end of the partnership will not affect their existing policies.” He further explained that, “such policies will remain in existence until they expire in accordance with the terms of the policy. The effect of expiration is that no new policies will be underwritten by EL and sold by SCBG to its customers.”

The Executive Director, SCB Wealth Management, Mrs. Setor Quashigah assures BANCASSURANCE clients of the Bank that “Standard Chartered Bank and Enterprise Life continue to have a strong and collaborative relationship in spite of the end of our partnership.” We would like to assure all existing clients that the Bank will continue to manage your premium payments and respond to all service requests expediently.

Both Enterprise Life and SCBG assure their existing joint clients of continued good services until the existing policies expire.