Agribank and FWD Vietnam enter bancassurance partnership

January 14, 2022 | 17:00
The Vietnam Bank for Agriculture and Rural Development and FWD Vietnam Life Insurance Co., Ltd. have launched a new bancassurance partnership today, designed to better meet the financial and insurance needs of Vietnamese people.

Under this partnership, the local state-owned lender (Agribank) will distribute FWD's products through more than 2,300 branches and transaction offices across the country.

Agribank and FWD Vietnam enter bancassurance partnership
Agribank will distribute FWD's products across the country, following the signing of the partnership

The partnership combines Agribank's unrivalled distribution network with FWD's diversified product portfolio, leading digital capabilities, and unique customer experience.

Agribank and FWD Vietnam enter bancassurance partnership
Nguyen Hai Long, deputy general director of Agribank

“The milestone today is a testament to our success in the journey to diversify our products and develop Agribank's banking-insurance-security ecosystem,” said Nguyen Hai Long, deputy general director of Agribank. “Our board of directors believes that this partnership will open more opportunities and increase the efficiency and competitive advantages of both sides.”

Agribank and FWD Vietnam enter bancassurance partnership
Huynh Huu Khang, CEO of FWD Vietnam spoke at the official event

Huynh Huu Khang, CEO of FWD Vietnam said, “We're excited to enter this important and meaningful cooperation. This partnership paves the way for stronger development for both sides and boosts the growth of our bancassurance model in Vietnam.

The partnership combines Agribank's unrivalled distribution network with FWD's diversified product portfolio, leading digital capabilities, and unique customer experience.

“More importantly, customers from cities to rural areas will now have easier access to our innovative products and unique customer experience. By partnering with Agribank, we can introduce our vision of changing the way people feel about insurance to even more communities and demographics across the country.”

Agribank's bancassurance partnership with FWD – a digital-first, next-generation life insurer, across the bank's entire distribution network will contribute to product diversity, increase sales, and allow millions of Agribank's customers to get access to insurance products that can protect their own and their family's financial health.

Established in 2016 and a member of FWD Group – a leading Asian-pan life insurer – FWD Vietnam has been recognised as one of the fastest-growing life insurance companies in the market.

By Anh Duc

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