Shinhan Bank Vietnam forges partnership with Samsung Vina Insurance

October 12, 2023 | 12:18

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Shinhan Bank Vietnam and Samsung Vina Insurance have just announced the signing of a cooperation agreement to distribute Samsung Vina Insurance's property insurance products to the valuable corporate customers of Shinhan Bank Vietnam.

Shinhan Bank Vietnam forges partnership with Samsung Vina Insurance

The strategic partnership was signed on October 11, allowing Shinhan Bank to offer Samsung Vina's property insurance products to its corporate clientele.

With this new agreement, Shinhan Bank will distribute property insurance offerings across its branches throughout Vietnam. This will enable its corporate customers to tap into a suite of enhanced insurance services backed by the expertise of Samsung Vina Insurance.

Kang Gew Won, CEO of Shinhan Bank Vietnam, expressed confidence in the collaboration by saying, “This cooperation will help leverage the effectiveness, potential, and strengths of both sides to improve capacity and create competitive advantages for both Shinhan Bank and Samsung Vina Insurance.”

Echoing his sentiments, Ye Young Hae, general director of Samsung Vina Insurance, highlighted their shared vision for sustainable growth, effective risk management, and superior customer service.

He remarked, "This signing ceremony lays a foundation for the relationship between the two parties and for further successes in the future."

Recent shifts in the non-life insurance sector have seen steady annual growth in premium revenues. In the first half of 2023, property insurance made up 29 per cent of the total, registering a growth rate of 10.9 per cent on-year.

Through this collaboration with Samsung Vina Insurance, a trusted name in the industry, Shinhan Bank aims to provide its business customers with tailored insurance choices and holistic banking solutions from a single point of contact.

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By Kim Dinh

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