Shinhan Life Vietnam and BOM Finance sign insurance business partnership

January 07, 2022 | 18:34

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South Korean life insurer Shinhan Life Vietnam Co., Ltd. has just signed a strategic cooperation with BOM Finance Service Vietnam on the provision of professional consultancy and distribution of life insurance products.

Shinhan Life Vietnam and BOM Finance sign insurance business partnership

Lee Euichul, general director of Shinhan Life (right) and Kim Chul Mo, CEO of BOM Finance, signed an agreement for the strategic cooperation

According to the agreement, starting from January, BOM Finance will become Shinhan Life Vietnam’s partner to deliver insurance products to customers through BOM’s channel. The first insurance product developed for this channel is Shinhan – Vui Song, the individual term life product.

“Shinhan Life officially opens its business in Vietnam starting January,” said Lee Euichul, general director of Shinhan Life. “We are confident to bring new and exciting experiences to customers with different products, distribution channels, and services that have not yet been fully tapped in by the market. Expanding the network and diversifying distribution channels are parts of our development strategy in Vietnam, and the cooperation with BOM Finance is one of our first steps to help customers access products from Shinhan Life most conveniently”.

BOM Finance will become Shinhan Life Vietnam’s partner to deliver insurance products to customers

Kim Chul Mo, CEO of BOM Finance shared, “The cooperation with Shinhan Life is a strategic and important cooperation of BOM in 2022. BOM Finance will support Shinhan Life to promote its products to customers, especially those in Vietnam’s northern region. With nearly four years of experience in the insurance business, we are confident to distribute Shinhan Life's products to a wide range of customers. We look forward to the explosion in this strategic cooperation, wishing that the relationship between BOM Finance and Shinhan Life becomes more and more successful.”

With initial charter capital of over $100 million injected by parent company Shinhan Life Insurance Corporation, Shinhan Life Vietnam provides life insurance, health insurance, and financial investment services.

By Anh Duc

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