Aviva Asia launches Vietnam subsidiary

September 1 2017 by InsuranceAsia News Staff

Aviva has launched in Vietnam with the establishment of Aviva Vietnam Life Insurance, a wholly-owned subsidiary.

The insurer has also signed a long-term exclusive distribution agreement with Vietinbank, one of the leading banks in Vietnam with a large branch network nationwide.

“Vietnam is a high-potential market in Asia with one of the world’s lowest insurance penetration rates, stable economic growth and rising middle class and high-income individuals,” said Chris Wei, executive chairman of Aviva Asia and global chairman of Aviva Digital.

In line with its multi-channel approach, Aviva Vietnam said it will continue to leverage the strategic partnership with Vietinbank while building a high-quality agency channel.

Through harnessing digital capabilities and simplicity, Aviva Vietnam added that it aims to become a digitally-integrated one-stop financial solution provider with the best-in-class customer experiences and product suite to Vietnamese consumers.

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