15:10 | 29/04/2014 Economy
(VEN) - 25 April 2014, Prudential Assurance Vietnam Private Limited and Standard Chartered Bank (Vietnam) Limited have entered into a new agreement to establish a 15-year strategic partnership to grow their bancassurance business together.
This came after parent companies of both entities signed a new 15-year agreement covering in several Asian markets subject to applicable regulations in each country. Vietnam is one of the markets where Standard Chartered Bank branches in the country will exclusively distribute a wide range of Prudential Vietnam’s life insurance products.
The agreement extends the already successful cooperation between Prudential Vietnam, the leading life insurer in Vietnam, and Standard Chartered Bank, one of the leading international banks in the country. Both organisations entered into a bancassurance agreement in 2009 and have developed their partnership into one of the most productive bancassurance businesses in the country. Building on their respective strengths and their common goal to broaden their bancassurance franchise in Vietnam, Prudential Vietnam and Standard Chartered Bank have reinforced their commitment and investments under the new 15-year strategic partnership, which will commence on 1 July 2014./.