Sun Life Vietnam and TPBank announce exclusive bancassurance agreement in Vietnam

21:38 | 28/11/2019 Companies

Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) and Tien Phong Commercial Bank (TPBank) today announced a 15-year exclusive bancassurance partnership in Vietnam.

The agreement combines TPBank’s distribution network with Sun Life Vietnam’s market-leading life insurance products, giving 2.5 million TPBank customers access to a comprehensive range of innovative insurance solutions to complement existing banking offers in one place.

Mr. Nguyen Hung, the CEO of TPBank said: “This partnership will bring more sustainable value to our customers and communities, bringing our customers more insurance solutions and helping them achieve lifetime financial security and live healthier lives. In particular, with our focus on technology development, the partnership is expected to leverage TPBank’s digital platform to make insurance transactions easier and deliver improved customer experience.”

sun life vietnam and tpbank announce exclusive bancassurance agreement in vietnam
Sun Life Vietnam and TPBank exchanges the agreements

Mr. Leo Grepin, the President of Sun Life ASEAN said: “We’re very excited to partner with TPBank, a digital leader in Vietnamese banking. This partnership demonstrates our focus on expanding our distribution network with partners that share our goal of constant innovation”.

Mr. Larry Madge, the CEO of Sun Life Vietnam added: “Sun Life’s global Client for Life strategy puts the needs of our Clients at the center of everything we do. We are confident TPBank shares our relentless focus on delivering the best solutions and client experiences and together we can help even more people in Vietnam achieve financial wellbeing.”

sun life vietnam and tpbank announce exclusive bancassurance agreement in vietnam
Sun Life Vietnam and TPBank at the signing cereremony

Bancassurance is a promising, high-growth distribution channel for life insurance in Vietnam. This 15-year exclusive partnership affirms the long-term commitment of TPBank and Sun Life Vietnam to help Clients achieve their financial goals with the best banking and insurance solutions.

Sun Life Vietnam (Sun Life) is a life insurance company with 100% capital from Sun Life Financial – A leading international financial service organization with 154 years of experience from Canada. Sun Life is an established industry pioneer and market leader in pensions for both individual and corporate clients in Vietnam. With the strategy Client for Life, Sun Life aims to help clients achieve lifetime financial security and live healthier lives. Currently Sun Life has a nationwide network of 55 branches and customer care centers.

Tien Phong Commercial Joint Stock Bank (TPBank) was founded on May 5th 2008. TPBank inherits technological expertise and financial strength from its strategic shareholders including DOJI Gold & Gems Group, FPT Group, Vietnam National Reinsurance Corporation (Vinare), SBI Ven Holding Pte. Ltd (Singapore), IFC International Finance Company (under World Bank) and PYN Elite Fund.