Manulife Vietnam celebrates bancassurance milestone with Saigon Commercial Bank

Both Manulife Vietnam and SCB emphasized the importance of continuing to support the community during the ongoing COVID-19 situation.

The bancassurance milestone underscores a successful collaboration between two market leaders and their focus on enhancing digital capabilities, along with educating customers about the benefits of being financially prepared.

Manulife Vietnam offers insurance and wealth management solutions to SCB customers through a distribution network of nearly 240 transaction offices nationwide. Over the years the partnership has not only established Manulife Vietnam and SCB as one of the leading bancassurance players in Vietnam. It's also helped build market momentum for the two organizations.

Despite the current climate the partnership continues to prosper, further signaling a positive-growth outlook for the bancassurance sector. As of August 2021, the partnership had successfully grown its APE (Annual Premium Equivalent) by 250% year-over-year, helping it exceed threefold the original target set at the beginning of the collaboration.

“This anniversary is about reaffirming our commitment to giving more people greater access to the right information, advice, services, and solutions. I’m delighted that Manulife Vietnam has a partner like SCB who shares our focus and ambition to deliver exceptional digital experiences throughout the customer journey and offer world-class financial solutions and advice,” said Hoe Shin Koh, Chief Partnership Distribution Officer at Manulife Vietnam.

“With safeguarding the health and protecting finances top of mind in Vietnam, Saigon Commercial Bank is honored to be addressing the insurance, savings, and investment needs of customers alongside Manulife Vietnam. Together we have a chance to make a real difference to the lives of our customers and improve their financial wellbeing,” said Nguyễn Cửu Tính, Deputy CEO at Saigon Commercial Bank.

Both Manulife Vietnam and SCB emphasized the importance of continuing to support the community during the ongoing COVID-19 situation. Collectively both organizations have donated tens of billions of Vietnamese dong towards the Government’s COVID-19 Vaccination Fund. Manulife Vietnam has also implemented a support program for customers and advisers diagnosed with COVID-19.