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Mar 2021

Vietnam: Manulife seals bancassurance partnership, buys Aviva's local operations

Source: Asia Insurance Review | Jan 2021

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Manulife Vietnam have signed an agreement to establish an exclusive 16-year bancassurance partnership to meet growing financial and insurance needs better.
 
Under this agreement, the insurer will work closely with VietinBank to design and offer a full suite of insurance, wealth and retirement products. The suite will be distributed through a professional and well-trained sales force and supported by modern digital tools and processes.
 
As part of the transaction, Manulife Financial Asia will acquire Aviva Vietnam.
 
The bancassurance partnership, as well as the acquisition of Aviva Vietnam, will be subject to regulatory approvals. A 
 
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