3. Agreements between the Bank and business alliance Agreement between the Bank and Prudential Life Assurance (Thailand) Public Company Limited In 2020, After negotiations, Prudential Life Assurance (Thailand) Public Company Limited (Prudential), the agreed to acquire the rights to sell the life insurance products exclusively for an initial term of 15 years, with effect on and from 1 January 2021. Strategic Collaboration The Bank aspires to assist the Thai in achieving their financial well-being for both current & future stage, through suitable & sufficient product & service offerings that cater to their individual needs throughout their lives to protect against associated risks, Through “Sufficient Protection” concept, the Bank believes that the Thai would be able to plan ahead and live their lives with confident. The partnership with Prudential will help bring the strengths, knowledges & experiences of the two organizations together to deliver what are best for customers, and is an important symbol of our dedication in deliver financial well-being for the Thai. Since 2021, the Bank have created insurance solutions with Prudential covering flexible life insurance with protection focus, health insurance that allows customers to customize to their needs and life insurance that helps customers plan their future and transfer their wealth systematically, with example of “ttb the treasure” which delivered 1.6 billion baht of premium within 9 months Agreement between the Bank and Asset Management Company Since April 2014, the Bank has set a long-term policy to have an open-architecture platform which offers a wide variety of mutual fund products in order to match various client needs and risk-return profiles. In July 2018, TMB announced partnership with Eastspring Investment, lead asset management in Asia, and the Bank agreed to sell 65% stake in TMBAM for a partnership with Eastspring. Partnering with Eastspring is in line with the Bank mutual fund open architecture strategy. It will also help enhance capabilities of TMBAM to provide with more variety of products and and uplifted services to better serve customers. Currently, TMBThanachart has 12 Asset Management Companies on open-architecture platform including TMB Asset Management Co. Ltd., UOB Asset Management Co. Ltd., Aberdeen Asset Management Co. Ltd., CIMB-Principal Co. Ltd., Manulife Asset Management Co. Ltd, Tisco Asset Management, One Asset Management Ltd, Kasikorn Asset Management Co. Ltd, Krungsri Asset Management Co. Ltd, Krungthai Asset Management Co. Ltd, Thanachart Fund Management Co., Ltd, and SCB Asset Management Co., Ltd. This enables the Bank to offer a broader range of products and asset classes to its customers. 96 TMBThanachart Bank Public Company Limited
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