The tie-up between Manulife Vietnam and Saigon Commercial Bank has been a successful one, with their bancassurance business experiencing strong growth and exceeding the target set at the beginning of the collaboration six years ago by threefold.

As of August 2021 the partnership had grown its annual premium equivalent (APE) by 250 per cent year-over-year.

Manulife offers insurance and wealth management solutions to SCB customers through a distribution network of nearly 240 transaction offices nationwide.

Hoe Shin Koh, chief partnership distribution officer at Manulife Vietnam, said: “This anniversary is about reaffirming our commitment to giving more people greater access to the right information, advice, services and solutions.

“I’m delighted that Manulife Vietnam has a partner like SCB who shares our focus and ambition to deliver exceptional digital experiences throughout the customer journey and offer world-class financial solutions and advice.”

Nguyen Cuu Tinh, SCB’s deputy CEO, said: “With safeguarding health and protecting finances top of mind in Viet Nam, Saigon Commercial Bank is honoured to be addressing the insurance, savings and investment needs of customers alongside Manulife Vietnam. Together we have a chance to make a real difference to the lives of our customers and improve their financial well-being.”

The two also emphasised the importance of continuing to support the community during the ongoing COVID-19 outbreak.

They have donated tens of billions of dong to the Government’s COVID-19 Vaccination Fund.

Manulife Vietnam has also undertaken a support programme for customers and advisors diagnosed with COVID-19. — VNS