NCB, Prevoir ink bancassurance pact

Friday, Dec 02, 2016 15:25

Previoir Viet Nam Life Insurance Company and National Citizen Bank signed exclusive distribution agreement. — VNS Photo Vu Hoa

The Prevoir Viet Nam Life Insurance Company and National Citizen Bank (NCB) on Thursday signed a bancassurance agreement to exclusively distribute Prevoir Viet Nam’s life insurance products through NCB’s network.

The partnership, to be implemented across 15 years, is the first exclusive agreement between Prevoir Viet Nam and NCB. With this association, the two sides expect to offer breakthrough life insurance products in Viet Nam.

Speaking at the signing ceremony, Tran Hai Anh, vice-chairman of NCB’s management board, said the bank has always strived to offer outstanding products and services to its customers. “Under the cooperation, NCB and Prevoir’s customers can enjoy all finance, banking and insurance services. The cooperation will also help the bank offer diversified financial products based on four key services: lending, transactions, investment and insurance,” Anh said.

Patricia Lacoste, chairman and general director of Prevoir Viet Nam, said the partnership will give her company access to more customers through NCB’s branches and transaction points network nationwide. The agreement suits our company’s business development plan in Viet Nam after 10 years of operation in the insurance market, she said.

Established in 1995, NCB has a network of more than 130 branches and transaction points across the country and aims to become one of the most effective retail banks in Viet Nam.

Prevoir Viet Nam, part of the Prevoir Vie Group, is one of the leaders in life insurance in France. Last year, its total revenue was VND528 billion (US$23.3 million), making it 10th among the 17 life insurance firms in the country. — VNS

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