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Enoch Yiu

Principal Insurance (Hong Kong) has formed an alliance with Sun Life under which the Canadian company will distribute Principal's Mandatory Provident Fund (MPF) products.

 Principal plans to provide MPF products for local employers, which will be sold by Sun Life agents.

 It also aims to act as a third-party administrator for other providers of MPF services.

 Principal does not have any sales employees, so it needs to link up with other insurers in order to sell its products.

 More than 2,000 insurance agents are expected to be selling MPF products for Principal.



Principal in sales tie-up