RBS addresses wealth transfer needs

RBS will make Transamerica Insurance’s flagship Universal Life policies available to its customers.

These policies—TransACESM, TransACE Elite SM, TransUltra SM and TransUltra Elite SM—are traditionally favored by the bank’s high-net-worth clients for succession and inheritance planning, as well as wealth preservation.

The relationship is part of the Royal Bank of Scotland’s strategy to broaden its product suite and strengthen its position as a wealth management service provider for the mass affluent group of clients, which the bank serves under its Royal Preferred Banking platform.

RBS is among the first financial institutions in Singapore to make available Universal Life plans to the mass affluent segment.

Mr. Ajay Mathur, Head of RBS’s Retail Banking Singapore, commented on the agreement in a signing ceremony: "We believe the relationship will greatly benefit RBS’s mass affluent clients who will be able to access niche insurance products not readily available in the market to help them in estate planning and securing assets for coming generations."