Expansions emerging in bancassurance services 08:00 | 12/05/2021
Expansions emerging in bancassurance services, source: pgbank.com.vn
On April 28, Bao Viet Life Insurance Corporation and PGBank â the banking arm of Petrolimex â inked a comprehensive agreement to provide exclusive bancassurance services. Bao Viet Life and PGBank will gear up their activities with a major focus on providing Bao Viet insurance products through PGBankâs channels, payment, and collection services, diversifying banking products.
Nguyen Phi Hung, general director of PGBank, said that bancassurance is one of the most appealing distribution channels of insurance services nationwide.
âThe strategic cooperation between banks and insurance is an inevitable trend, thus opening up new opportunities for both sides. We are very honoured to be a trusted partner of Bao Viet Life Insurance to provide seamless, best-in-class insurance products to our customers,â
Sun Life Vietnam has cooperated with banks via a bancassurance partnership to offer more solutions to customers and improve client experience. - VnExpress International
Banks scaling up charter capital goals 11:57 | 23/02/2021
International and domestic financial institutions have strengthened their charter capital to boost financial capacity and ramp up business activities in Vietnam.
Domestic and foreign lenders have been ramping up their charter capital to compete in the country. Photo: Le Toan
The Vietnamese banking system was supplemented with more than VND33 trillion ($1.43 billion) of charter capital in 2020. By the end of last year, 18 Vietnamese banks recorded charter capital of over VND10 trillion ($434.8 million).
Earlier this month, digitally-led local lender TPBank was approved by the State Bank of Vietnam to increase its charter capital to more than VND10.71 trillion ($466 million), and is now eligible to open four more branches and two transaction offices nationwide in 2021.
Sun Life Vietnam increases charter capital 01:23 | 02/02/2021
Sun Life Vietnam has become one of the largest insurers in Vietnam
With this capital hike, Sun Life Vietnam has become one of the largest insurers in the country.
According to general director Larry Madge, this fresh source will help the firm strengthen its financial capacity, as well as continue to pursue its goal of helping customers achieve lifetime financial security and enjoy healthier lives.
Moreover, the insurer will lay a focus on developing the best digital experiences for customers, while continuing to expand distribution channels to reach more new customers. The capital hike also demonstrates the firmâs long-term commitment to Vietnamâs burgeoning market.
Banking partnerships maintain rapid pace 14:00 | 24/12/2020
Vietnamâs insurance market becomes increasingly crowded
Last week, VietinBank and Manulife entered an agreement to establish an exclusive 16-year bancassurance partnership to better meet the growing financial and insurance needs of Vietnamese people.
Manulife Vietnam will be the exclusive provider of bancassurance solutions to VietinBank customers in Vietnam soon after regulatory approval is obtained. This partnership will help to grow and further protect the health and wealth of Vietnamese individuals, families, and businesses by offering best-in-class insurance, wealth, and retirement solutions.
As part of the transaction, Manulife Financial Asia Ltd. will also acquire insurance firm Aviva Vietnam. The acquisition of Aviva Vietnam will be subject to regulatory approvals. Manulife expects the partnership to be accretive to diluted core earnings per common share in 2022 and the impa