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 impact on the Life Insurance Capital Adequacy Test ratio is expected to be less than 1 per cent.