This agreement aims to extend and enhance their highly successful partnership, which debuted in 2015.
Under this agreement, Prudential Vietnam will offer its comprehensive financial protection and wealth management solutions through PVcomBank’s extensive network of 117 branches, giving consumers greater access to insurance and wealth management that fits their needs.
2018 marked a successful year for the co-operation between Prudential and PVcomBank, with revenue growth jumping by eight times against 2017.
“Recognizing the growing need across Vietnam for comprehensive insurance and wealth solutions, Prudential Vietnam has extended its alliance with PVcomBank to provide consumers with best-in-class offerings that help them protect their families and their health, as well as grow their wealth. Our solutions will leverage the latest innovations and digital technology to support consumers as they progress in life,” said Clive Baker, CEO of Prudential Vietnam.
Prudential Vietnam, in the long-term partnership with PVcomBank, again emphasises its pioneering in this business model.
So far, Prudential Vietnam – a member of Prudential Plc., a leading global financial group headquartered in the UK – has partnered with six banks, including both regional and local entities. The new business revenue of bancassurance channel in 2018 increased more than 150 per cent against 2017.
According to research by the World Bank, Vietnam’s middle class has been expanding rapidly, adding 1.5 million people each year. Entering the middle class is typically the trigger for individuals to consider protecting both their wealth and health. Fuelled by solid economic growth, demand for wealth savings and investment products is also on the rise.