Banking partnerships maintain rapid pace 14:00 | 24/12/2020
Vietnamâs insurance market becomes increasingly crowded
Last week, VietinBank and Manulife entered an agreement to establish an exclusive 16-year bancassurance partnership to better meet the growing financial and insurance needs of Vietnamese people.
Manulife Vietnam will be the exclusive provider of bancassurance solutions to VietinBank customers in Vietnam soon after regulatory approval is obtained. This partnership will help to grow and further protect the health and wealth of Vietnamese individuals, families, and businesses by offering best-in-class insurance, wealth, and retirement solutions.
As part of the transaction, Manulife Financial Asia Ltd. will also acquire insurance firm Aviva Vietnam. The acquisition of Aviva Vietnam will be subject to regulatory approvals. Manulife expects the partnership to be accretive to diluted core earnings per common share in 2022 and the impa
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VietinBank и Manulife подписали соглашение о партнерстве
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Aviva boss announces Vietnam sale in latest deal for insurance group
PA
14 December 2020, 5:41 am
Insurance group Aviva has continued its selling spree of non-core divisions by offloading the company’s wholly-owned life insurance business in Vietnam.
Bosses at the group revealed that Aviva Vietnam Life Insurance will be bought by Manulife Financial Asia in an all-cash deal, although the amount paid was not revealed.
It follows sales of Aviva’s Hong Kong joint venture last week, a division in Italy in November, and its Singaporean division in September.
Chief executive Amanda Blanc has said she wants to refocus Aviva on Britain, Ireland and Canada – which make up around two-thirds of the firm’s revenues.