Detailed guidance on banning sale of bancassurance needed

Monday, Oct 28, 2024

Clause 5 of Article 15 of the Law on Credit Institutions, which took effect from July 1 this year, prohibits banks from ‘linking’ the sale of non-mandatory insurance products with the provision of banking products or services, in any form.

Banks permitted to sell investment-linked insurance products

Tuesday, Jul 16, 2024

A ban on commercial banks selling investment-linked insurance products has been lifted.

Ministry of Finance to scrutinise insurance sales via credit institutions and foreign bank branches

Thursday, Mar 14, 2024

While acknowledging the market''s achievements, Minister of Finance Hồ Đức Phớc expressed concern about the quality of advisory services, customer care and claims settlement, particularly in the rapidly expanding life insurance sector.

MoF receives complaints about insurance products

Tuesday, Aug 15, 2023

The Ministry of Finance (MoF) says that since its hotline for insurance products went into operation on February 2023, the ministry already received and handled 213 petitions over the phone and 479 via email.

Shinhan Life, FIMI partner in life insurance product distribution

Friday, Aug 11, 2023

Shinhan Life Insurance Vietnam Limited Liability Company (Shinhan Life) and FIMI Company Limited (FIMI) have signed a cooperation agreement on the distribution of life insurance products.

Finance ministry unveils wrongdoings of insurance companies

Monday, Jul 10, 2023

Many banks missold life assurance policies, with some customers having their savings deducted to purchase agreements without their knowledge, a MoF investigation has found.

Shinhan Life Vietnam, Shinhan Vietnam Finance Company sign partnership

Wednesday, Jun 29, 2022

Shinhan Life Insurance Vietnam Limited Liability Company (“Shinhan Life Vietnam”) and Shinhan Vietnam Finance Company Ltd., (“Shinhan Finance”) officially signed a strategic partnership agreement on June 28.

Shinhan Life Vietnam introduces new insurance products for children

Monday, Jun 13, 2022

Shinhan Life Insurance Vietnam Co., Ltd. (Shinhan Life) launched two life insurance products for children, showing a desire to accompany Vietnamese parents on the journey to protect their children

Hanwha Life Vietnam, Viettel Post sign cooperation deal

Monday, Jan 24, 2022

Hanwha Life Vietnam has signed an agreement with Viettel Post Joint Stock Corporation (Viettel Post) on the distribution of insurance products.

Banks, insurers boost bancassurance to get returns

Saturday, Mar 02, 2019

Banks and insurance companies are ramping up co-operation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.

F88 and MAP Life promote co-operation

Friday, Mar 01, 2019

Ha Noi-based pawn shop chain F88 and Mirae Asset Prevoir Life Insurance Company Ltd (MAP Life) on Wednesday in Ha Noi signed a co-operation agreement to distribute life insurance products.

Prudential launches $471,000 promotion

Wednesday, Oct 10, 2018

Prudential Vietnam Assurance Private Ltd has launched a promotion campaign called "Qua tron yeu thuong" with total prizes worth VND11 billion (US$471,000) for new clients.

Bancassurance brings risks for insurers

Wednesday, Oct 03, 2018

The model of distributing insurance products via banks (bancassurance) has contributed significantly to increasing insurers’ revenue, but experts warned that the overheating growth of the business could cause insurers to have to pay compensations due to mistakes made by bank employees,...

Chubb Life signs bancassurance deal with VietABank

Monday, Jul 09, 2018

Chubb Life Insurance and Viet A Joint Stock Commercial Bank have entered into a bancassurance partnership, with the latter distributing Chubb’s life insurance products exclusively for 10 years.

Hanwha Life Vietnam signs agreement with Movin for tele-sale

Wednesday, Apr 04, 2018

Hanwha Life Vietnam Insurance Company Limited on April 3 signed an agreement with Movin Company Limited to sell its products through tele-sale channel.