Ho Chi Minh City, 1 August, 2017 - FWD Vietnam Life Insurance Company Ltd. (“FWD”) and Nam A Commercial Joint Stock Bank (“Nam A Bank”) have signed an exclusive 15-year bancassuarance partnership to provide comprehensive and diverse life insurance products for Nam A Bank’s customers. With this agreement, FWD will expand its bancassurance distribution network as it aims to become a leading insurer in Vietnam that changes the way people feel about insurance.
Mr. Anantharaman Sridharan, FWD’s General Director, said: "FWD has achieved remarkable growth in the last six months, and our bancassuarance distribution channel has been a significant driver of this. Our strength in providing innovative and simple products and a unique customer experience supported by leading digital technologies will complement Nam A Bank’s network for the ultimate benefit of their customers and the availability of insurance. This is aligned with our vision to change the way people feel about insurance and help Vietnamese families to live life to the fullest.”
Ms. Luong Thi Cam Tu, Nam A Bank’s General Director said: "We have studied many partners to choose the suitable one for cooperating, diversifying services and maximizing Nam A Bank’s internal strength. With a strong financial position and extensive experience in insurance in Asia, FWD has become as our exclusive partner. Through our stable customer base and nationwide network as well as the same strategy of “customer centricity” and mutual trust, I believe that the cooperation between Nam A Bank and FWD will bring good results not only in the insurance sector but also in the development of both companies."
Through this collaboration, FWD is once again demonstrating solid steps to build a market-leading bancassurance distribution platform by investing in people, technology, partners and networks.
About FWD Group
FWD Group spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, and Japan, offering life and medical insurance, general insurance and employee benefits across a number of its markets.
FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance.
Established in Asia in 2013, FWD is the insurance business of investment group Pacific Century Group.
For more information please visit www.fwd.com
About Nam A Bank
Nam A Commercial Joint Stock Bank was officially put into operation on 21 October 1992 and was one of the first commercial banks to be established after the Banking Ordinance was issued in 1990 in the context of economic reform in Vietnam. After 23 years of development, facilities, technologies, sciences, techniques and network of Nam A Bank have been expanded and enhanced more and more in association with great improvements in living standard of employees and prestige of Nam A Bank.
At the time of establishment, Nam A Bank had only 3 branches with charter capital of 5 billion VND and about 50 employees. For many years of difficulties and challenges, Nam A Bank has endlessly developed to own a network of 60 transaction offices nationwide. Moreover, current charter capital and number of employees of Nam A Bank are 600 times and 27 times higher than those in 1992, respectively. Most of Nam A Bank’s employees are young, dynamic and highly qualified that trained domestically and overseas.
At present, Nam A Bank aims to become one of modern banks in Vietnam based on fast, strong, safe and effective development, as well as one of the country-leading banks to make endless contribution of socio-economic development.
For further information or enquiries regarding the above notification, please contact:
Mr. Nguyễn Ngọc Thụy