Debevoise & Plimpton is advising Sun Life in its 15-year exclusive bancassurance partnership with Dah Sing Bank, Limited (“Dah Sing Bank”). Under the agreements, Dah Sing Bank will distribute Sun Life’s life insurance products across all its distribution network in Hong Kong.
Sun Life will pay upfront transaction consideration of HK$1.5 billion, with ongoing variable payments. The strategic partnership will give Sun Life access to Dah Sing Bank’s exclusive distribution network, and further strengthen its wealth management offerings in Hong Kong.
The Debevoise team advising Sun Life is led by partner Edwin Northover and includes partner Gareth Hughes, international counsel Jan Buschmann, counsel Robert Dura and associates Sheng Shao and Tiffany Wu.