Revenues from bancassurance through its tie-up with Saigon Join Stock Commercial Bank have been double the annual target every year since they became partners three years ago, life insurer Manulife Vietnam said.

During the three years they have professionalised their activities, stepped up the use of technology to improve service quality and created some unique products to meet the increasingly diverse financial needs, it said.

“We are very pleased with the growth and great benefit this close partnership brings to customers of both Manulife and SCB,” Hoe Shin Koh, chief partnership distribution officer of Manulife Vietnam, said.

“We will continue to invest in improving our services and product offerings. Building trust with SCB and our bancassurance customers will continue to be our key focus as we continue to progress in this close partnership for many years to come.”

Dang Duc Huy, head of the bank’s retail banking division, said: "SCB deeply appreciates the stable co-operation with Manulife Vietnam. We are committed to providing the most comprehensive and optimal financial products and services."

SCB distributes Manulife’s products through a network of branches and transaction offices around the country.

This year the two parties plan to introduce new products to better meet the increasing demands of customers to protect their families.

According to statistics from the Insurance Association of Viet Nam, Manulife was the leader in the bancassurance channel in terms of annual premiums collected as of the second quarter of this year. — VNS