AIA Viet Nam and VPBank, Viet Nam’s largest private joint stock commercial bank by market capitalisation, on Monday signed a 15-year exclusive bancassurance partnership agreement.

Through this partnership, VPBank customers can enjoy AIA Viet Nam’s comprehensive range of life insurance products and services complemented by AIA Vitality, AIA’s innovative wellness proposition.

This will make VPBank the first bank in Viet Nam to offer insurance integrated with wellness across its entire nationwide network of 215 branches and transaction offices and all bank segments, including retail, SME Corporate, household and digital banking.

This long-term exclusive partnership will allow AIA Viet Nam and VPBank to jointly invest in and commit to creating a market-leading bancassurance platform that is supported by the integration of digital capabilities, best-in-class training programme and service innovation to serve customers better.

“Our strategic partnership with VPBank highlights our commitment to deliver value-added wellness, protection and long-term savings solutions to VPBank customers, and more importantly, to advance the life insurance market in Viet Nam by helping people live longer, healthier and better lives,” Wayne Besant, AIA Viet Nam’s CEO, said.

Nguyen Duc Vinh, VPBank’s CEO, said: “We have always viewed bancassurance as an integral and strategic aspiration for the bank. Life insurance is a vital component and product offering for our target market segments, in particular, the affluent and upper class consumer, as well as the SME and household banking segments. We are very excited to collaborate with AIA Vietnam as part of this bancassurance relationship and look forward to making the best-in-class life insurance products available through our distribution network.”. —VNS