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BRIEF-United Overseas Bank Says Signed Agreement To Renew Strategic Regional Bancassurance Arrangement With Prudential Group

Reuters

Jan 10 (Reuters) - United Overseas Bank Ltd:

* HAS SIGNED AN AGREEMENT TO RENEW ITS STRATEGIC REGIONAL BANCASSURANCE ARRANGEMENT WITH PRUDENTIAL GROUP FOR 15 YEARS

* A FEE OF S$1.15 BILLION WILL BE PAID THAT WILL BE ACCRUED OVER LIFE OF BANCASSURANCE ARRANGEMENT

* UNDER AGREEMENT, UOB GROUP TO DISTRIBUTE PRUDENTIAL GROUP'S LIFE INSURANCE PRODUCTS TO ITS CONSUMER BANKING CUSTOMER BASE Source text for Eikon: Further company coverage: