Sun Life Vietnam and TPBank signs exclusive bancassurance deal

By Phat Dat   November 27, 2019 | 07:00 pm PT
Sun Life Vietnam and TPBank announced a 15-year exclusive bancassurance partnership in Vietnam.

The agreement combines Tien Phong Commercial Bank's (TPBank) distribution network with the life insurance products of Sun Life Vietnam Insurance Company Limited, giving 2.5 million TPBank customers access to a comprehensive range of innovative insurance solutions to complement existing banking offers in one place.

CEO of TPBank, Nguyen Hung said: "This partnership will bring more sustainable value to our customers and communities, bringing our customers more insurance solutions and helping them achieve lifetime financial security and live healthier lives."

"In particular, with our focus on technology development, the partnership is expected to leverage TPBank’s digital platform to make insurance transactions easier and deliver improved customer experience," he added.

Sun Life Vietnam and TPBank exchanges the agreements.

Sun Life Vietnam and TPBank exchanges the agreements.

Leo Grepin, President of Sun Life ASEAN, said the partnership with TPBank, a digital leader in Vietnamese banking, demonstrates Sun Life's focus on expanding its distribution network with world-class partners that share its goal of constant innovation.

CEO of Sun Life Vietnam, Larry Madge added: "Sun Life’s global Client for Life strategy puts the needs of our clients at the center of everything we do. We are confident TPBank shares our relentless focus on delivering the best solutions and client experiences and together we can help even more people in Vietnam achieve financial wellbeing."

Sun Life Vietnam and TPBank representatives at the signing cereremony.

Sun Life Vietnam and TPBank representatives at the signing cereremony.

Bancassurance is a promising, high-growth distribution channel for life insurance in Vietnam. This 15-year exclusive partnership affirms the long-term commitment of TPBank and Sun Life Vietnam to help Clients achieve their financial goals with optimal banking and insurance solutions.

About Sun Life Vietnam

Sun Life Vietnam (Sun Life) is a life insurance company with 100 percent capital from Sun Life Financial, a leading international financial service organization with 154 years of experience from Canada. Sun Life is an established industry pioneer and market leader in pensions for both individual and corporate clients in Vietnam. With the strategy Client for Life, the firm aims to help clients achieve lifetime financial security and live healthier lives.

Currently Sun Life has a nationwide network of 55 branches and customer care centers. Sun Life Vietnam has achieved multiple awards from domestic and foreign prestigious organizations, such as: Top 10 most reputable insurance companies in Vietnam announced by Vietnamnet & Vietnam Report; "Best Life Insurance Solutions Provider - Vietnam 2018, 2019" by the International Finance Magazine (IFM), "Top 100 best products and services for families and children in 2019" by Social Labor Newspaper, and Family and Children Magazine.

About Sun Life

Sun Life is a leading international financial service organization providing insurance, wealth and asset management solutions to individual and corporate clients. Sun Life has operations in a number of markets worldwide, including Canada, the U.S., the U.K., Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, mainland China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2019, the group had total assets under management of $1,063 billion CAD. For more information please visit:

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

About TPBank

TPBank was founded on May 5, 2008. The bank inherits technological expertise and financial strength from its strategic shareholders including DOJI Gold & Gems Group, FPT Group, Vietnam National Reinsurance Corporation (Vinare), SBI Ven Holding Pte. Ltd (Singapore), IFC International Finance Company (an arm of the World Bank Group) and PYN Elite Fund.

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