Sun Life Vietnam makes debut in Viet Nam. — VNS Photo

Canadian life insurer Sun Life Vietnam made its debut in Viet Nam on Wednesday after having bought out its partner PVI Holdings last November.

Sun Life Financial Inc had acquired the remaining 25 per cent in its erstwhile joint venture, PVI Sun Life Insurance Company Ltd.

Kevin Strain, president of Sun Life Financial Asia, said: “Viet Nam is one of the fastest growing economies for life insurance and pensions in Asia, and this transaction will enable us to strengthen our platform in this market.

“It also forms part of a series of recent investments we have made across the region as Sun Life continues to increase its presence in Asia.”

This month the company is organising an event to announce the change in name and ownership in major cities like HCM City, Ha Noi, Da Nang, and Nha Trang.

The joint venture had been launched in 2013, and at the end of 2015 Sun Life had acquired 75 per cent before the buyout last November.

Sun Life Vietnam has established itself as a market leader and industry pioneer in pensions. — VNS