Representatives of Chubb Life Insurance and Viet A Bank sign a bancassurance agreement in HCM City yesterday. — VNS Photo

Chubb Life Insurance and Viet A Joint Stock Commercial Bank have entered into a bancassurance partnership, with the latter distributing Chubb’s life insurance products exclusively for 10 years.

Lam Hai Tuan, chairman and country president of the Swiss insurance company, said: “One of Chubb Life’s objectives is to expand and diversify our distribution network to better serve our customers with life insurance solutions. The Vietnamese market has witnessed a rapid growth of bancassurance in recent years, which opened up many opportunities for insurers and banks to bring more benefits to consumers.”

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, it provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.

Chubb Life is the international life insurance division of Chubb.

In Asia, Chubb Life operates in Hong Kong, Indonesia, Korea, Taiwan, Thailand, and Viet Nam, and participates in a joint-venture in China. It has been in Viet Nam since 2005. — VNS