Agribank and FWD Vietnam Announce Bancassurance Partnership

9:00:42 PM | 1/13/2022

Vietnam Bank for Agriculture and Rural Development ("Agribank") and FWD Vietnam Life Insurance Company Limited ("FWD") on January 12 launched a new bancassurance partnership, designed to better meet the financial and insurance needs of Vietnamese people.

Under this partnership, Agribank will distribute FWD's products through more than 2,300 branches and transaction offices across the country.

Under this partnership, Agribank will distribute FWD's products across the country

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

Mr. Nguyen Hai Long, Deputy General Director of Agribank, said: "The milestone today is a testament to our success in the journey to diversify our product offering and develop Agribank's banking – insurance – security ecosystem. Agribank's Board of Directors believes that this partnership will open up more opportunities, increase the efficiency and competitive advantage of both sides."

Mr. Huynh Huu Khang, Chief Executive Officer 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. 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 its diversity of products offered, increase sales number and allow millions of Agribank's customers get access to insurance products that can protect their own and their family's financial health.

Hoa Pham (Vietnam Business Forum)