PT Sun Life Financial Indonesia (Sun Life Indonesia) and PT Bank CIMB Niaga Tbk announced that they are deepening their existing partnership in Indonesia. Sun Life Indonesia currently offers insurance solutions to CIMB Niaga customers through digital and out-of-branch channels. This new agreement makes Sun Life Indonesia the provider of insurance solutions to CIMB Niaga customers through all channels for a term of 15 years starting in January 2025.

It also extends the term of the existing relationship by six (6) years to 2039. This partnership combines Sun Life Indonesia's comprehensive range of insurance solutions and expert Client care across all life stages with CIMB Niaga's extensive distribution network of 427 branches serving seven (7) million customers across Indonesia. Established in 1955, CIMB Niaga is the second largest private bank by total assets in Indonesia as of December 31, 2021.

Sun Life is also the exclusive bancassurance partner for CIMB Group in Malaysia. The Indonesian market is the largest economy in Southeast Asia and offers significant growth potential, reflecting a young, emerging middle class with low insurance penetration rates. This deepening partnership will accelerate Sun Life's long-term strategy to grow its distribution capacity, supported by bancassurance.

It will also enhance the value proposition for CIMB Niaga customers and provide them with a comprehensive range of protection and long-term savings solutions to address their evolving needs.