EastWest Banking Corporation has secured the final regulatory approval needed to put up its planned joint venture life insurance company with Ageas Insurance International N.V. While the license grants permission to underwrite life insurance, EastWest Ageas Life Insurance Corporation still has to wait for
Bangko Sentral ng Pilipinas' (BSP) clearance of the bancassurance business within EastWest premises. The new insurance company will enable EastWest Bank to offer life insurance products to its customers and increase its revenue base and market share, the listed lender said in an earlier disclosure to the Philippine Stock Exchange.

The bank has tapped Hans Loozekoot from Ageas to be CEO of EastWest Ageas Life, and charted the strategy of the new life insurer to tap the millennial market.