Standard Bank insurance company Charter Life

Charter Life Namibia commenced business yesterday when they started selling life insurance to Standard Bank clients.

The company is a wholly owned subsidiary of the Liberty Group from South Africa in which Standard Bank is a controlling shareholder. According to Peter Laburn, chariman of Charter Life Namibia: “We will initially be marketing simple products to the Standard Bank customer base such as funeral and credit life policies, but we hope to extend our product range in the short term.Namibia is our first partnership with Standard Bank outside of South Africa and we look forward to partnering them in other African states.”Exponents of a concept called Bancassurance, the company will sell products like funeral policies, death, disability and retrenchment protection to clients of the bank who require home loans, ordinary loans or finance for a motor car.Managing director of Standard Bank Namibia, Theo Mberirua said: “We have seen success of the partnership in South Africa and have no doubt we will be successful in Namibia.”According to Peter Laburn, chariman of Charter Life Namibia: “We will initially be marketing simple products to the Standard Bank customer base such as funeral and credit life policies, but we hope to extend our product range in the short term.Namibia is our first partnership with Standard Bank outside of South Africa and we look forward to partnering them in other African states.”Exponents of a concept called Bancassurance, the company will sell products like funeral policies, death, disability and retrenchment protection to clients of the bank who require home loans, ordinary loans or finance for a motor car.Managing director of Standard Bank Namibia, Theo Mberirua said: “We have seen success of the partnership in South Africa and have no doubt we will be successful in Namibia.”