SberLife Insurance is expanding its investment savings options tied to life insurance, offering products denominated in yuan and UAE dirham. This move was highlighted by Igor Kobzar, vice president of Sberbank and managing director of SberLife Insurance, during remarks reported by Kommersant. The shift signals a strategic push to broaden currency diversification for clients who seek to balance risk and growth across different markets.
Banking executives say there is a clear appetite for holdings in yuan, and SberLife’s wealth-focused offerings already provide yuan investment opportunities. The company is exploring a yuan-denominated product designed to be accessible to a wider client base, not just ultra-high-net-worth investors. At the same time, attention is turning to the UAE dirham as part of a broader international currency strategy that could appeal to Canadian and American investors seeking geographic and currency diversification within long-term savings plans.
Historical context matters here. In November 2022, SberLife Insurance introduced yuan instruments within certain life-insurance programs that include a return on investment feature. Funds deposited through these plans could be allocated across multiple asset classes, including yuan-denominated bonds, offering a path for clients to reduce currency risk while pursuing potential yield. The program was particularly aimed at high-net-worth individuals who want exposure to the yuan as part of a diversified portfolio. The ongoing development reflects a broader trend toward multi-currency life-insurance solutions in global markets, a trend that may resonate with investors in North America who are weighing currency exposure as part of retirement and long-term wealth strategies [Source: Kommersant].