Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) and Asia Commercial Joint Stock Bank (ACB) have formed a 15-year exclusive bancassurance partnership in Vietnam.
Launching January 1, 2021, the partnership combines ACB's extensive distribution network of 371 branches with Sun Life Vietnam's competitive and comprehensive life insurance solutions. It will give ACB's fast-growing base of over 3.6 million clients access to a comprehensive range of innovative insurance solutions at different life stages.
"We're pleased to enter into this partnership with ACB," said Dean Connor, President and CEO of Sun Life. "Bancassurance remains a high-growth distribution channel in Vietnam. Sun Life is committed to the Vietnam market and this announcement is another example of Sun Life partnering to meet the evolving and changing needs of clients in this region."
"We're thrilled to announce this partnership to help millions more clients in Vietnam achieve lifetime financial security and live healthier lives with Sun Life," said Léo Grépin, President of Sun Life Asia.
He added, "ACB is a market leader and shares our focus on delivering exceptional client experience, leveraging digital and analytics, and providing innovative solutions. We look forward to working with ACB to secure a brighter future for their clients in Vietnam."
Sun Life Vietnam achieved sales growth of 47% over the 12 months ending September 30, 2020, compared to the same period last year, with a focus on offering a comprehensive range of solutions and exceptional client experiences.
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