The 15-year agreement announced today (27 Nov) with Tien Phong Commercial Bank (TPBank) strengthens and diversifies Sun Life Vietnam's distribution in the country by extending its reach to 2.5 million TPBank customers.
Joint Stock Commercial Bank for Foreign Trade of Vietnam ("Vietcombank") and FWD Group have entered into a Distribution Agreement to establish an exclusive 15-year bancassurance partnership. Under the agreement, Vietcombank will distribute FWD's life insurance products.
Generali Vietnam Life Insurance and Orient Commercial Joint Stock Bank have entered into a 15-year strategic exclusive bancassurance partnership. The strategic move aims to develop financial and insurance solutions, expand distribution channels, promote the application of advanced digital technology, and enhance customer experience.
For the long-running and deep collaboration in its partnership with Manulife Vietnam which has resulted in astonishing results through the aligned vision and strategy of placing the customer first, Techcombank was awarded Bank Partner of the Year at the 4th Asia Trusted Life Agents & Advisers Awards.
Manulife Vietnam and Ho Chi Minh City-based Asia Commercial Bank have signed a bancassurance partnership agreement on 9 September 2019.
Bancassurance has now become the main source of income from services for many banks and its contribution to banks is expected to increase.
What got our readers' attention in the month of July? Get up to speed here and be sure share this with your fellow practitioners. Good things must share.
Koh Hoe Shin, Chief Partnership Distribution Officer, Manulife Vietnam, sits down for a candid chat on the importance of multi-channel approach, the expected growth of bancassurance in Vietnam, successful partnerships and his views on fees and renewals of partnerships.
Vietnam was the fastest growing market in emerging Asia (ex China) last year, with total premiums surging by 23% to $5.8bn. In comparison, total premiums in the region's emerging markets grew by 6.2%, which was a faster than growth in advanced Asia Pacific (2.6%) and the world (4.8%), according to data from Swiss Re Institute's World Insurance Report.
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