Prudential Vietnam and PVcomBank sign exclusive long-term partnership

Prudential Việt Nam và PVcomBank hợp tác dài hạn

Hợp tác thành công của Prudential và PVcomBank

nhu cầu tìm kiếm các giải pháp bảo hiểm và tài chính toàn diện

Prudential Việt Nam và PVcomBank hợp tác dài hạn
Hợp tác thành công của Prudential và PVcomBank
nhu cầu tìm kiếm các giải pháp bảo hiểm và tài chính toàn diện

August 8, 2019 – Prudential Vietnam Assurance (Prudential Vietnam) and Vietnam Public Joint Stock Commercial Bank (PVcomBank) today signed a long-term strategic partnership to exclusively distribute Prudential Vietnam’s life insurance and wealth solutions to customers of PVcomBank. This agreement extends and enhances their highly successful partnership, which began in 2015. 

Under this exclusive agreement, Prudential Vietnam will offer its comprehensive financial protection and wealth management solutions through PVcomBank’s extensive network of 117 branches, giving consumers greater access to insurance and wealth management that fits their needs.

2018 marked a successful year in cooperation of Prudential - PVcomBank with the revenue growth rate increased by 8 times of itself in 2017.

Mr. Clive Baker, CEO of Prudential Vietnam, said, “Our customers are at the heart of everything we do. Recognising the growing need across Vietnam for comprehensive insurance and wealth solutions, Prudential Vietnam has extended its alliance with PVcomBank to provide consumers with best-in-class offerings that help them protect their families and their health, as well as grow their wealth. Our solutions will leverage the latest innovations and digital technology to support consumers as they progress in life.” 

Mr. Nguyen Viet Ha, Deputy CEO of PVcomBank, said, “PVcomBank, is honoured to partner with one of the leading insurance companies in Vietnam to bring effective financial solutions to people. We believe our exclusive network and large customer base will help sustain the success that our partnership has enjoyed since 2015. The modern, innovative solutions provided by Prudential Vietnam enhances and diversifies PVcomBank’s offerings to help meet the modern demands for financial services.”

Prudential Vietnam, in the long-term partnership with PVcomBank, again emphasizes its pioneering in this business model. Till now, Prudential Vietnam has partnered with 6 banks including both regional and local banks. The new business revenue of bancassurance channel in 2018 increase more than 150% against 2017.

According to research by the World Bank, Vietnam’s middle class has been expanding rapidly, adding 1.5 million people each year[1]. Entering the middle class is typically the trigger for individuals to consider protecting both their wealth and health. Fueled by solid economic growth, demand for wealth savings and investment products is also on the rise.

[1] https://www.worldbank.org/en/news/press-release/2018/04/05/vietnam-continues-to-reduce-poverty-according-to-world-bank-report

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