Business Irish

Friday 27 April 2018

KBC teams up with Irish Life to provide new life insurance products

KBC Bank
KBC Bank

Charlie Weston Personal Finance Editor

EXPANDING bank KBC is to link up with Irish Life to provide insurance products.

The move will see KBC Bank provide mortgage life insurance, term life insurance, life-long insurance and income protection to its customers through Irish Life.

The new suite of life insurance products will feature full customer service support and strengthen KBC's existing offering, which includes Over 50s life insurance and simple life insurance, it said.

KBC also offers home insurance products through Zurich Insurance.

Executive director and head of retail banking with KBC Bank Ireland, Dara Deering, said that the bank's customer base had increased by more than 25pc this year.

"We've been developing our retail presence with the launch of new hubs in Dublin, Cork, Limerick and Galway and through attractive products which offer value, innovation and choice.

"Our expanded product range allows our customers the convenience of conducting their full banking requirements through KBC and we're seeing a positive response from consumers with our customer base increasing by over 25pc this year."

KBC has five branches in Ireland and intends to double this number.

It has identified a site in the Grand Canal docks, Dublin, which is likely to open in January.

Two more branches are likely in the capital, one in Cork and one in the midlands.

The bank recently said its customer numbers had risen to 165,000, as the bank establishes its retail offering in Ireland.

Expansion at the Belgium-headquartered bank comes as ACC Bank is closing its main banking operations here and handing back its banking licence, and Danske Bank is closing its retail banking operations.

Ms Deering said recently that KBC intended to launch credit card and personal loan products "very soon", while its deposit base had grown to about €3bn from €2bn at the end of 2012.

Irish Independent

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