Generali Vietnam signs 15-year bank dealOctober 22 2019 by Andrew Tjaardstra
Generali Vietnam Life and Ho Chi Minh City-headquartered Orient Commercial Joint Stock Bank have both signed a 15-year bancassurance partnership.
Under the undisclosed agreement, OCB will be an exclusive distributor of Generali Vietnam’s life and health products; these will be distributed via OCB’s country-wide network and online channels.
Tina Nguyen, Generali Vietnam chief executive, said: “We have enjoyed and valued our partnership with OCB over the last two years and now look forward to building on our excellent business performance together under this new exclusive partnership.”
She added: “This commitment is based on our mutual strengths in data analysis, digital capabilities and shared focus on customer centricity.”
Nguyen Dinh Tung, chief executive of OCB, said: “The exclusive partnership between OCB and Generali recognises the increasing development and success of the bancassurance model in Vietnam to leverage and enhance the strengths of both sides, bringing mutual efficiency as well as benefits for customers.”
Vietnam is a fast-growing market; for an in-depth insight see here.
- June 5
The HK major announced the acquisition of Australia's Commonwealth Bank's division in 2018.
- March 19
FWD will leave its agreement on April 1 after a period of heavy expansion in Thailand.
- November 27
Asean president Leo Grepin says the deal with TP Bank will provide access to 2.5m customers.
- November 15
The bank, which is going through a merger, is looking into its agreements, including with FWD.