Old Mutual Emerging Markets and Ecobank have announced a strategic agreement to strengthen theexisting ties between the pan-African bank and the insurance and asset management player.
Old Mutual Emerging Markets currently has a bancassurance partnership with the Ecobank Group. Old Mutual said the new deal will grow the existing strategic alliance by providing "seamless" insurance services to Ecobank customers across selected countries where the two groups have operations.
Old Mutual said will benefit from a range of financial services, which comprise life insurance, savings and short-term insurance solutions across a greater network on the African continent.
Ecobank Group CEO Ade Ayeyemi said that the plans for the integrated model include providing access to insurance solutions offered by Old Mutual Emerging Markets for Ecobank’s banking operations across selected countries.
"This is a productive and valued partnership between two pan-African institutions to provide complete financial services solutions to our customers," Ayeyemi added.
Old Mutual Emerging Markets CEO Ralph Mupita said: "It is in our mutual interest to ensure that this alliance grows from strength to strength, as we now look to complement Ecobank’s range of banking services to its customers with Old Mutual’s trusted financial products across the Ecobank network on the continent."