CAL Bank and Prudential Life Insurance Ghana have signed a long-term partnership agreement to jointly develop their businesses in Ghana.

The agreement will enable CAL Bank's customers to buy Prudential's high-quality and innovative insurance products in the bank's 25 branches later this year.

The collaboration will increase CAL Bank's range of life insurance products and marks a further step in Prudential Ghana's development since its launch in 2014.

Executive Director of CAL Bank, Philip Owiredu, said the bank’s partnership with Prudential will complement an already strong banking business.

 “We are looking forward to offering our customers Prudential's world-class insurance products and services in the near future,” he said.

Head of Retail and Business Banking at CAL Bank, Samuel Ntow Affum, said: “Delivering desirable products and services to our customers is at the heart of our success. This partnership offers our customers a great way to buy an array of innovative insurance products from Prudential which is one of the most trusted insurers in the world.”

Emmanuel Aryee, Chief Executive of Prudential Ghana, said: “Our partnership with CAL Bank will add to the growth we have already achieved and brings us closer to our goal of becoming the life insurer of choice for Ghanaians. We are proud to partner with CAL Bank, one of Ghana's leading banks, and we look forward to helping its customers plan for the future with innovative insurance products.”

Matt Lilley, Chief Executive of Prudential Africa, said: “Prudential has built successful life insurance businesses throughout the world by combining highly effective agency forces with long-term bank partnerships. We are taking the same approach in Ghana. Today's agreement with CAL Bank is another important milestone for our business here and we are excited about its potential.”