Standard Chartered Bank Kenya and Prudential Life Assurance Kenya has announced a partnership to roll out bancassurance products. The products will target wealthy Kenyans in their financial, risk, wealth protection and legacy planning.
As part of the partnership, SCB and Prudential have also launched a protection product of up to Ksh. 500 million. It is designed for high net-worth individuals seeking bespoke financial solutions that address their long-term financial planning and wealth management needs.
The product known as LivLife surpassed Ksh. 2.6 billion in sum-assured sales during a six-month pilot phase prior to launch.
“The LivLife solution offers clients high-value life insurance tailored for intergenerational wealth transfer, legacy planning, and long-term financial security. The pilot highlighted a growing appetite for financial protection and future-proof savings among Kenya’s affluent class, marked by a shift from traditional endowment products to whole life solutions and a needs-based approach to insurance,” said Kariuki Ngari, CEO and Managing Director of Standard Chartered Kenya and Africa.
SCB and Prudential have also launched a savings-oriented plan that helps clients fund children’s education and retirement goals while preserving present financial stability. It is known as Future Ready.
Standard Chartered will serve as the primary distribution channel for both products and other products currently under development. The bank will leverage its advisory-led wealth model and personalized solutions offering, to help clients integrate insurance into their broader investment and legacy planning strategies.
Prudential Life Assurance Kenya, a subsidiary of Prudential plc, brings insurance expertise and product innovation to the partnership. Prudential is responsible for designing solutions that meet real, evolving client needs backed by decades of global leadership and a growing Africa footprint.
The newly launched partnership in Kenya is part of a 26-year global relationship between Standard Chartered and Prudential across 11 markets in Africa Asia.