Nguyen Duc Thach Diem (L), general director of Sacombank, and Tran Dinh Quan, general director of Dai-ichi Life Viet Nam, sign an exclusive 20-year bancassurance partnership. — VNS Photo

Japanese-owned Dai-ichi Life Insurance Company of Viet Nam and Sacombank on September 6 signed an exclusive 20-year bancassurance partnership agreement.

Under the agreement, Dai-ichi Life Vietnam would be the sole insurer selling life insurance products through Sacombank’s network.

Sacombank and Dai-ichi will co-ordinate to provide specialised training in life products, consulting and customer care to Sacombank staff.

They will regularly organise seminars to introduce financial protection solutions to customers.

Speaking at the signing ceremony, Takashi Fujii, chairman of Dai-ichi Life International Asia Pacific and Dai-ichi Life Vietnam, said: “This co-operation will help Dai-ichi Life Vietnam strengthen its solid foundation to provide superior life insurance products and services, matching the long-term financial security of customers.

Duong Cong Minh, chairman of Sacombank, said: “I am confident that the 115 years of experience of Dai-ichi Life together with the strength and dynamics of one of the top commercial banks in Viet Nam will provide the most premium, convenient and attractive insurance products to customers.”

He described it as a "win-win" deal.

“The co-operation between Sacombank and Dai-ichi Life Vietnam in which the first step is the bancassurance model will be further expanded to many other fields to exploit and promote each other's strength.”

Sacombank is one of the top five banks in Viet Nam with the network of 564 transaction points in 48 provinces and cities.

Viet Nam was the first foreign market where Dai-ichi Life Group set up a fully-owned subsidiary, which it did in 2007. — VNS