Manulife Vietnam and Techcombank have mutually agreed to conclude their distribution partnership, effective from October 14, after which date Manulife insurance products will not be distributed via Techcombank channels. — Photo courtesy of Manulife Vietnam

Manulife Vietnam and Techcombank on Monday announced updated information on their exclusive insurance distribution partnership in Việt Nam.

Manulife Vietnam and Techcombank have agreed to discontinue their distribution partnership. The legitimate and legal rights of customers who purchased Manulife insurance policies through Techcombank will remain guaranteed by Manulife and Techcombank will continue to support its customers.

In 2013, Manulife Vietnam, a leading life insurance company, and Techcombank, a leading commercial bank, entered the distribution partnership with the shared goal and commitment to offer the best possible products and services to meet the growing financial and insurance needs of customers.

Through this distribution partnership, Manulife Vietnam and Techcombank have collaborated to successfully provide optimal life and health insurance solutions to their valued customers. Manulife Vietnam and Techcombank are proud of this achievement and continue to hold each other in high regard.

In response to the evolving market landscape, the new requirements of the Insurance Business Law and changes to the strategies of Manulife Vietnam and Techcombank, the two parties have reviewed the terms of the distribution partnership to assess its alignment with business objectives, while maintaining the long-term benefits to customers.

After thorough consideration, Manulife Vietnam and Techcombank have mutually agreed to conclude their distribution partnership, effective from October 14, after which date Manulife insurance products will not be distributed via Techcombank channels.

Techcombank will continue to assist customers in contacting and working with Manulife for support related to their Manulife insurance policies. The two parties maintain the utmost respect for each other and their business objectives and most importantly are committed to ensuring that the legitimate and legal rights of customers are protected.

The cessation of the partnership agreement will not impact the rights and interests of customers who purchased Manulife insurance policies through Techcombank. The insurance policies remain unchanged and will continue to be serviced by Manulife.

Techcombank is fully committed to working closely with Manulife to ensure a smooth and seamless transition, reassuring customers that their policies are unaffected and that they can continue their Manulife policies with full confidence and peace of mind.

Manulife’s dedicated staff will also be available to provide high-quality care services to customers who purchased Manulife insurance policies through Techcombank, ensuring highest level of convenience for customers.

As a part of Manulife Financial, a leading global financial group from Canada with over 130 years of experience and serving more than 35 million customers across North America, Europe, and Asia, Manulife Vietnam will continue to offer insurance products to the Việt Nam public through its existing agency distribution channel and other banking partners, and looks forward to investing more in its plans to expand these distribution channels to better meet the diverse needs of our customers.

With the vision to “Change banking, change lives”, Techcombank remains committed to its customer-centric strategy and will continue to bring valuable financial solutions and the best experiences to customers, including life and non-life insurance products in the near future.

Manulife Vietnam and Techcombank are deeply grateful for the trust and support of their customers, partners, and stakeholders throughout this partnership.

As they move forward, they remain committed to upholding responsibilities, always putting customers first, and continuously improving and innovating within the insurance and banking sectors to deliver better products, services, and experiences for customers. — VNS