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Hong Kong's Dah Sing Bank strikes bancassurance deal with Canada's Sun Life

Reuters

SINGAPORE, Jan 20 (Reuters) - Hong Kong's Dah Sing Bank and a subsidiary of Canada's Sun Life Financial Inc have struck a 15-year bancassurance partnership deal in Hong Kong.

"Sun Life will pay an amount of HK$1.5 billion ($191.5 million) for this exclusive arrangement, with ongoing variable payments to Dah Sing Bank based on the success of the partnership, both companies said in a joint statement on Friday. ($1 = 7.8333 Hong Kong dollars) (Reporting by Anshuman Daga; Editing by Christopher Cushing)