Anantharaman Sridharan (right), FWD’s general director, shakes hands with Luong Thi Cam Tu, Nam A Bank’s general director, at the signing ceremony. — VNS Photo

Nam A Commercial Joint Stock Bank has signed a 15-year bancassurance partnership with FWD Vietnam Life Insurance Company Ltd. to provide comprehensive and diverse life insurance products for the bank’s customers. 

With this exclusive agreement, FWD will expand its bancassurance distribution network as it aims to become a leading insurer in Viet Nam and change the way people feel about insurance.

Luong Thi Cam Tu, Nam A Bank’s general director, said: "Through our stable customer base, nationwide network and similar strategies of ’customer centricity’ and mutual trust, I believe the cooperation between Nam A Bank and FWD will bring good results not only in the insurance sector, but also in the development of both companies."

Through this collaboration, FWD is once again demonstrating solid steps to build a market-leading bancassurance distribution platform by investing in people, technology, partners and networks.

Nam A Commercial Joint Stock Bank began operations on October 21, 1992, and was one of the first commercial banks to be established after the Banking Ordinance was issued in 1990 to enable economic reforms. Since then, it has grown rapidly, and now owns a network of 60 transaction offices nationwide. Its charter capital has increased to VND30 trillion now from VND5 billion in 1992.

Nam A bank aims to establish itself as one of Viet Nam’s most modern and leading banks that is seeing fast, strong, safe and effective development, and making significant contributions to the country’s socio-economic development.

Established in 2013, FWD is the insurance arm of Pacific Century Group, an Asia-based private investment group. FWD operates in Hong Kong and Macau, Thailand, Indonesia, the Philippines, Singapore, Japan and Viet Nam, offering life, medical and general insurance and employee benefits across a number of its markets. — VNS