return icon

FWD group inks insurance distribution deal with Vietcombank

Insurer FWD Group confirmed on November 12 its purchase of Vietcombank-Cardif Life Insurance (VCLI), an unit of Vietnam’s largest listed lender by market value, Vietcombank.


Representatives of FWD Group and Vietcombank at the signing ceremony in Hanoi on November 12 (Photo



Vietcombank-Cardif Life Insurance is a joint venture between the bank and BNP Paribas Cardif.

The transaction is subject to regulatory approvals, FWD and Vietcombank said.

During a signing ceremony held in Hanoi on November 12, FWD Group, the insurance arm of Hong Kong billionaire Richard Li’s investment group Pacific Century, also announced the group and Vietcombank have entered into an exclusive 15-year bancassurance partnership.

Under the agreement, Vietcombank will distribute FWD’s life insurance products, the bank said, without providing further financial details of the deal.

FWD Vietnam has a prominent advantage in digitalising all business processes, with a solid strategy of developing diversified, simple and suitable products for each customer segment, which aligns with Vietcombank’s digital transformation strategies, said Nghiem Xuan Thanh, Chairman of Vietcombank.

Richard Li, Founder and Chairman of Pacific Century Group said the cooperation with Vietcombank is part of FWD's strategy to become a leading insurance distribution company in Asia.

FWD has a presence in Hong Kong and Macau, Singapore, Japan, Thailand, Indonesia, Malaysia, the Philippines, and Vietnam./.

Vietcombank becomes first Vietnamese bank to open rep office in US

Vietcombank becomes first Vietnamese bank to open rep office in US

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) inaugurated its representative office in the US, on November 1.

Vietcombank given greenlight to open branch in Australia

Vietcombank given greenlight to open branch in Australia

Vietcombank is heading to Australia and could open for business in Sydney within the next 12 months.  

Vietcombank posts record profit of nearly $757.6 million

Vietcombank posts record profit of nearly $757.6 million

Bank for Foreign Trade of Vietnam (Vietcombank) reported $757.59 million in consolidated profit in the first nine months of this year, surging 50.6 percent from the same time last year and reaching 85.8 percent of the yearly plan.


Many real estate firms declared bankruptcy in 2022

The number of real estate firms declaring bankruptcy and dissolution in 2022 increased by 38.7 percent over 2021, according to the Ministry of Construction’s (MOC) recent report.

Electricity prices must be reasonable: PM

Prime Minister Pham Minh Chinh recently chaired a conference on domestic consumption and exports in 2023.

Vietnamese aviation market predicted to fully recover by year-end

The Vietnamese aviation market is forecast to fully recover by the end of this year, according to a global outlook for the aviation industry released by the International Air Transport Association (IATA) recently.

Many Japanese firms plan expansion in Vietnam: JETRO poll

Sixty percent of Japanese investors in Asia-Pacific polled in a 2022 survey by the Japan External Trade Organization (JETRO) said they plan to expand operations in Vietnam within the next two years.

Artificial intelligence programs can't replace human: Experts

With limited data resources and reliance on the will of programmers, AI-powered applications such as ChatGPT can give incorrect answers to user queries.

Despite decelerating, phone exports still have long-term prospects

Phones and components achieved an export turnover of US$57.9 billion last year, a year-on-year increase of only 0.8 per cent.

Hopes gaining ground for 5G commercialisation in 2023

With 5G commercialisation in the gun barrel for 2023, the road for tech players to expand in the market is around the corner, but more favourable conditions may be required to make the most of the situation.

HCM City to launch appropriate programs, policies to attract young talents

The Pham Ngoc Thach University of Medicine in HCM City on February 6 held a talk on seeking solutions for supporting and developing young talents and future leaders and implementing program 01 of the municipal Party Committee.

Admiring the tranquil beauty of the holy land

Located in Chuong My District of Hanoi, the ancient Tram Gian Pagoda has been known far and wide for its long history and beauty.

Central bank not tighten real estate credit: Deputy Governor

The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8.

Vietnamese Prime Minister starts official visit to Singapore

Prime Minister Pham Minh Chinh, his spouse, and a high-ranking Vietnamese delegation arrived in Changi Airport on February 8 afternoon, starting a three-day official visit to Singapore.

Businesses discuss ways to overcome challenges in 2023

Warned that uncertainties will still exist in 2023, businesses need to prepare well to weather the storm.

Vietnam's bond market remains quiet this year

The scale of debt in the corporate bond market is less than 15 per cent of GDP.

Organ trafficking in Vietnam driven by high demand, low rate of donation: experts

A conference on organ donation registration and the prevention of human organ and tissue trafficking was held on Monday.

VCCI proposes allowing businesses to set fuel retail prices

The Vietnam Chamber of Commerce and Industry (VCCI) has written to the Government suggesting fuel retail prices be decided by businesses based on supply and demand to prevent fuel shortages.