Leaders of Bao Viet Insurance Corporation and the Southeast Asia Commercial Joint Stock Bank shake hands at the signing ceremony of two sides’ co-operation agreement held on Wednesday in Ha Noi. — Photo to courtesy of SeaBank

Bao Viet Insurance Corporation (Bao Viet) and the Southeast Asia Commercial Joint Stock Bank (SeABank) signed a comprehensive co-operation agreement in Ha Noi on Monday.

Leaders of the bank and the corporation said the agreement, which was signed by Viet Nam’s two leading financial and insurance institutions, aimed at strengthening the partnership and making the most of the two parties’ advantages, experience and professional capacity.

Under the agreement, the two sides will implement insurance partnership programmes, prioritising the use their products among customers while enhancing cross-selling products and services and developing co-operation in marketing.

Also under the deal, the firms will soon introduce SeACar Care, an integrated package comprising of SeaBank’s lending services applicable for auto products, along with Bao Viet’s insurance services to provide customers with a new financing insurance solution.

In 2016, Bảo Việt saw a growth rate of above 12 per cent against the previous year. Its 2016 revenue was estimated to reach VND6.8 trillion (US$297 million), accounting for nearly 20 per cent of the total insurance market share.

SeABank is currently a strategic partner providing financial, banking and lending services for many leading auto brands, such as Mercedes-Benz, Thaco Truong Hai, Hyundai Thanh Cong and Kia, as well as Mazda and Toyota. — VNS