AIA, HSBC announce Vietnam deal

Bancassurance deal will bring together two international giants in one APAC nation

AIA, HSBC announce Vietnam deal

Insurance News

By Jordan Lynn

AIA Life Insurance and HSBC Bank have announced a new bancassurance deal in Vietnam.
The deal will bring together the two international giants through a range of long-term saving and life insurance plans. It includes universal life and term life insurance as well as medical and critical illness policies, Vietnam Investment Review reports.

Wayne Besant, CEO of AIA Vietnam, told the publication that the deal will see the two firms innovate on new products and solutions for clients.

“Customer experience and innovation are at the heart of everything our companies do and we are excited to bring our talents together to create even bolder and more innovative solutions to address the ever-changing needs of our customers,” Besant said.

Pham Hong Hai, CEO of HSBC Vietnam, said that the robust economic growth of the country in recent years has seen a growth in the middle-class as life insurance becomes a more attractive prospect in the country.

“By working with AIA, we aim to provide our customers with best-in-class insurance products and services that are critical to achieving their needs and aspirations for a better life quality,” Hai said.
AIA recently announced the launch of a new Cambodian office as the firm looks to grow its business throughout the ASEAN region.

Related stories:
AIA announces exec changes, record growth
Aviva buys out Vietnam joint venture

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