🍨 Banks permitted to sell investment-linked insurance products
Commercial banks can continue to sell investment-linked insurance products through the bancassurance channel.
Keyword: "insurance products"
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🍌 Ministry of Finance unveils wrongdoings of insurance companies
The sale of insurance products through agency channels, including banks of some insurers, saw many violations, especially regarding the consultation of bank staff and brokers, according to the Ministry of Finance’s inspection result report.
😼 Bancassurance becomes main service earner for banks
Instead of the modest contribution made previously, the insurance business segment, or bancassurance (banks co-operate with insurers to sell insurance products), has now become the main source of income from service activities for many banks.
𒁏 Plan targets 15 percent of population with life insurance by 2025
A plan approved by Prime Minister Nguyen Xuan Phuc targets that 11 percent of Vietnam’s population will have bought life insurance by 2020, and the rate will reach 15 percent by 2025.
Bancassurance brings risks for insurers
The model of distributing insurance products via banks (bancassurance) has contributed significantly to increasing insurers’ revenue, but experts warned that the overheating growth of the business could cause insurers to have to pay compensations due to mistakes made by bank employees, who also act as insurance products consultants.
😼 Brand Finance: Bao Viet listed among top 50 brands
The Bao Viet Group was listed among the nation's top 50 brands, with a brand value of 79 million USD and a brand rating of A plus, according to London-based Brand Finance.