HCMC, June 29, 2018 – Chubb Life Insurance Vietnam Company Ltd. (“Chubb Life in Vietnam”) and Viet A Joint Stock Commercial Bank (“VietABank”) today announced the commencement of their bancassurance partnership. VietABank will distribute life insurance products exclusively for Chubb Life in Vietnam for 10 years.
This strategic partnership aims to maximize benefits for clients by leveraging the services and products from Chubb Life and VietABank, as well as to improve the service quality and the competitiveness of both parties. With this long-term partnership, VietABank will provide customers with Chubb Life’s diversified life protection and health insurance products with preeminent benefits, which suit a wide range of individual customers among the network of VietABank’s branches in key cities and provinces in Vietnam.
Mr. Lam Hai Tuan, Chairman and Country President of Chubb Life in Vietnam, said: “One of Chubb Life’s objectives is to expand and diversify our distribution network to better serve our customers with life insurance solutions. The Vietnamese market has witnessed a rapid growth of bancassurance in recent years, which opened up many opportunities for insurers and banks to bring more benefits to consumers. We believe that this partnership will provide Vietnamese customers tremendous value, who will be able to get Chubb Life’s leading insurance products via VietABank’s outstanding customer service.”
“Partnering with foreign companies in banking and financial sector is one of the strategic objectives in VietABank's business plan. With the exceptional strengths from both parties, we are confident that the partnership between VietABank and Chubb Life Vietnam will be further developed and enhanced, bringing more and more benefits to customers.”, Mr. Nguyen Van Hao, General Director of VietABank, shared.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide.
About Chubb Life in Vietnam
Chubb Life is the international life insurance division of Chubb. In Asia, Chubb Life operates in Hong Kong SAR, Indonesia, Korea, Taiwan, Thailand and Vietnam, and participates in a joint-venture in China. Chubb Life has been in Vietnam since 2005, and launched its Fund Management Company (Chubb Life Fund Management Company Limited) in 2014. To meet the financial protection and security needs of its broad range of customers, Chubb Life in Vietnam (Chubb Life Insurance Vietnam Company Limited) offers a range of life protection, savings, investment-linked and health insurance solutions through its agents, banks and its network of 83 offices.
Additional information can be found at: http://life.chubb.com/vn.