Aviva Asia launches Vietnam subsidiarySeptember 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.
- July 4
The agreement was signed in time for the inauguration of Amret’s new headquarters in Phnom Penh.
- June 25
Vietcombank is looking for a new insurance distribution partner in a deal that could be worth as much as US$1bn.
- June 22
The agreement with Sathapana Bank was signed at a ceremony attended by the finance ministry and central bank.
- June 15
The two institutions have forged a bancassurance partnership, initially covering parts of Europe and Australia.