Tuesday,  Jun 19, 2018,13:40 (GMT+7) 0 0
Dai-ichi Life, Sacombank clinch 20-year bancassurance partnership
Kim Yen
Friday,  Sep 8, 2017,00:05 (GMT+7)

Dai-ichi Life, Sacombank clinch 20-year bancassurance partnership

Kim Yen

Representatives of Dai-ichi Life Vietnam and Sacombank are seen at the signing ceremony of the 20-year exclusive bancassurance partnership agreement in HCMC on September 6 - PHOTO: MINH KHUE

HCMC - Dai-ichi Life Vietnam and Sacombank on September 6 signed a 20-year exclusive bancassurance partnership agreement, the longest of its kind in the domestic insurance market.

Under the deal, Dai-ichi Life Vietnam is the exclusive provider of premier life insurance products and riders through the bank’s nationwide network. They will cooperate on specialized training aimed at advancing skills on life products, consulting and customer care for Sacombank employees.

Dai-ichi Life Vietnam will join forces with Sacombank to hold seminars to introduce the company’s financial protection solutions to customers. With 564 transaction points in 48 provinces and cities, and a multi-function retail system, the bank will give a boost to the distribution of Dai-ichi Life Vietnam’s financial protection products.

Dai-ichi Life Vietnam and Sacombank hoped the partnership would help leverage their respective strengths.

Takashi Fujii, chairman of Dai-ichi Life International Asia Pacific and chairman of Dai-ichi Life Vietnam, said the exclusive partnership with Sacombank, one of the major financial institutions in the country, will help the company strengthen its solid foundation to provide life insurance products and services matching the long-term financial security of customers.

“The signing with Sacombank once again imprints our foothold in the market, demonstrating our determination in expanding the customer base,” Fujii said.

Duong Cong Minh, chairman of Sacombank, said the partnership will benefit the bank, Dai-ichi Life Vietnam and customers. “It is a win-win partnership in which Sacombank, Dai-ichi Life Vietnam and its customers will benefit altogether.”

In the first eight months of this year, Dai-ichi Life Vietnam posted first year premiums of more than VND1.87 trillion and total premiums of over VND4.22 trillion, surging 57% and 49% year-on-year respectively.

Dai-ichi Life Vietnam was established in January 2007. Vietnam was the first foreign market where Dai-ichi Life Group established a commercial presence through a 100%-owned subsidiary.

Dai-ichi Life Vietnam said it has been among the top four life insurance companies in Vietnam, serving more than 1.7 million Vietnamese customers through over 1,000 staff, 66,000 financial consultants, and 239 offices and general agencies nationwide.

Dai-ichi Life Vietnam said that following the chartered capital increase to US$100 million in May last year, it got Ministry of Finance approval in January 2017 for adjusting up its capital up to US$117 million.



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