The An Binh Bank and the Prudential Vietnam Life Insurance have announced to expand their cooperation following their initial success of the bancassurance product.
The An Binh Bank (ABBank) and thePrudential Vietnam Life Insurance have announced to expand theircooperation following their initial success of the bancassuranceproduct – an insurance product sold by banks.
Since launching last April with 12 initial transaction offices, the twopartners have earned API (annual premium income) exceeding 1 billionVND, an optimistic figure for their cooperation via the bancassuranceproduct – a new business model in Vietnam.
As a result, the two sides will expand the network to 20 transaction offices in both Ho Chi Minh City and Hanoi .
Customers at ABBank branches and transaction offices are able to access insurance products of Prudential.
Prudential has had more than 70 similar joint efforts in 12 Asiancountries, said Prudential Vietnam General Director Jack Howell, addingthat in Vietnam , Prudential’s partners are ABBank, Standard Charteredand Agribank.
ABBank General Director Nguyen Hung Manh said he believed that thecooperation would enhance effectiveness in serving customers, meettheir comprehensive financial demands and provide better cares./.
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