Business

Prudential, Maritime Bank extend bancassurance partnership for 15 years

Prudential Vietnam Assurance Private Limited, a subsidiary of Prudential Plc, and Vietnam Maritime Commercial Joint Stock Bank have renewed their strategic bancassurance partnership for another 15 years.
Prudential, Maritime Bank extend bancassurance partnership for 15 years ảnh 1Prudential Vietnam and Vietnam Maritime Commercial Joint Stock Bank have renewed their strategic bancassurance partnership (Photo courtesy of Prudential Vietnam)
HCMCity (VNS/VNA) - Prudential Vietnam Assurance Private Limited, asubsidiary of Prudential Plc, and Vietnam Maritime Commercial Joint Stock Bankhave renewed their strategic bancassurance partnership for another 15 years.

Thenew agreement significantly expands the geographical scope to include thenorth, where MSB is headquartered, and make Prudential the lender’s onlypartner.

Theyhave been collaborating since 2013 and built a highly successful bancassurancepartnership which delivered a 34 percent compounded annual growth rate inannual premium equivalent between 2014 and 2020.

Underthe renewed partnership, the two sides will also expand into new segments,including digital, to deliver holistic protection solutions to customers.

Witha digital-focused approach that is aligned with MSB and Prudential’s plans toleverage existing digital tools such as the latter’s artificialintelligence-powered application Pulse, they hope to seize further growthopportunities.

NicNicandrou, Chief Executive of Prudential Corporation Asia, said: “Vietnam is animportant market and source of growth for Prudential. The renewal and expansionof our long-term partnership with MSB represents a tremendous opportunity forPrudential to build on its strong presence in the market. It is a cleardemonstration of our commitment to serving MSB’s customers, helping them get themost out of life with our leading suite of health and wealth solutions.”

PhuongTien Minh, Chief Executive Officer of Prudential Vietnam, said: “PrudentialVietnam has built a highly-effective bancassurance partnership with MSB since2013.

“Weare delighted to be taking the partnership to the next level as we deliver ourinnovative offerings to MSB’s customers through existing as well as newchannels, including digital. We look forward to continuing our strongrelationship with MSB for another 15 years.”

NguyenHoang Linh, Chief Executive Officer of MSB, said: “We have enjoyed a verysuccessful partnership with Prudential Vietnam and this reinforced our decisionto extend the partnership and expand its scope to cover all of Vietnam.

“Togetherwith Prudential Vietnam, we will remain focused on providing best-in-classfinancial and investment solutions to consumers across the country, helpingthem fulfil their evolving needs and providing them with a secure future.”/.
VNA
#Prudential Vietnam Assurance Private Limited #Prudential Plc #Vietnam Maritime Commercial Joint Stock Bank #strategic bancassurance partnership #vietnamplus #vietnam news agency
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