Shinhan Life officially launches life insurance business in Vietnam

January 25, 2022 | 10:00
Shinhan Life Insurance Vietnam Co., Ltd. today officially launched its life insurance brand and announced the start of its business operations in Vietnam, aiming to offer comprehensive insurance solutions to the domestic market.

The opening ceremony took place at Shinhan Life's head office at the Friendship Tower in Ho Chi Minh City's District 1, marking an important milestone on Shinhan Life's journey towards providing the best insurance products and services to Vietnamese customers.

Shinhan Life officially launches life insurance business in Vietnam
Shinhan Life is a newcomer to the market

“We are very proud of the opening and business launch in the Vietnamese market,” said Lee Eui Chul, general director of Shinhan Life Vietnam. “Shinhan Life was granted its license by the Ministry of Finance on February 8, 2021. After nine months of preparation and with the effort of all employees, the company had completed all internal preparations and procedures and is now ready for its business.”

In cooperation with Shinhan Group's companies in Vietnam, Shinhan Life aims to provide comprehensive financial services to customers.

Shinhan Life has also introduced its maiden insurance product, Shinhan An Binh, which provides blood cancer protection for children.

With this product, Shinhan also expressed the desire to accompany Vietnamese parents on their journey to protect children, helping families live happily every day.

Accordingly, insurance policies will be awarded free of charge to 5,000 customers nationwide for one month. Through this activity, Shinhan Life Vietnam wishes customers' families to be better prepared for the future and enjoy life with peace of mind. For more information on free insurance.

Shinhan Life officially launches life insurance business in Vietnam
Lee Eui Chul, general director of Shinhan Life Vietnam

According to Chul, as a newcomer to the market leveraging extensive experience in the insurance and financial sectors from the parent company Shinhan Life Korea, Shinhan Life Vietnam is confident to bring new and exciting experiences for customers with differentiated products, distribution channels, and services.

In the initial period, the company will focus on developing independent health insurance products for children and providing free leukaemia insurance through a digital platform.

In the next phase, efforts will be geared towards establishing a product distribution channel via telemarketing and a digital platform.

“Recently, consumer awareness has changed, and with it the demand for health-related products. We hope the importance of life insurance has become increasingly more recognised, thereby raising the insurance penetration rate of Vietnamese people,” said Chul.

Shinhan Life officially launches life insurance business in Vietnam
The official opening and business launch in Vietnam marked Shinhan Life's journey towards providing insurance products and services to local customers

Within the framework of the official launching ceremony, Shinhan Life's leaders and employees received warm congratulations from representatives of the Ministry of Finance of Vietnam, the South Korean Embassy in Vietnam, the Korean Financial Supervisory Service, and leaders of Shinhan Financial Group, the parent company Shinhan Life in Vietnam.

In cooperation with Shinhan Group's companies in Vietnam, Shinhan Life aims to provide comprehensive financial services to customers.

By Anh Duc

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