Sun Life announces 15-year exclusive bancassurance partnership with Asia Commercial Joint Stock Bank in Vietnam

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Sun Life announces 15-year exclusive bancassurance partnership with Asia Commercial Joint Stock Bank in Vietnam

PR Newswire

Sun Life Logo (CNW Group/Sun Life Financial Inc.)

TORONTO, Nov. 18, 2020 /PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) announced today that its subsidiary Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) and Asia Commercial Joint Stock Bank (ACB) have formed a 15-year exclusive bancassurance partnership in Vietnam.

Launching January 1, 2021, the partnership combines ACB's extensive distribution network of 371 branches with Sun Life Vietnam's competitive and comprehensive life insurance solutions. It will give ACB's fast-growing base of over 3.6 million Clients access to a comprehensive range of innovative insurance solutions at different life stages.

The partnership significantly expands Sun Life's distribution capabilities, supporting its ambition to be a leader in Asia through distribution excellence in higher growth markets. Sun Life Vietnam achieved sales growth of 47% over the 12 months ending September 30, 2020, compared to the same period last year, with a focus on offering a comprehensive range of solutions and exceptional Client experiences.

"We're pleased to enter into this partnership with ACB," said Dean Connor, President and CEO of Sun Life. "Bancassurance remains a high-growth distribution channel in Vietnam. Sun Life is committed to the Vietnam market and this announcement is another example of Sun Life partnering to meet the evolving and changing needs of Clients in this region."

"We're thrilled to announce this partnership to help millions more Clients in Vietnam achieve lifetime financial security and live healthier lives with Sun Life," said Léo Grépin, President of Sun Life Asia. "ACB is a market leader and shares our focus on delivering exceptional Client experience, leveraging digital and analytics, and providing innovative solutions. We look forward to working with ACB to secure a brighter future for their Clients in Vietnam."

Visit www.sunlife.com for slides and more information related to this announcement. 

About Sun Life
Sun Life is a leading international financial services 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 United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2020, Sun Life had total assets under management of $1,186 billion. For more information, please visit www.sunlife.com.

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

About Sun Life Vietnam
Sun Life Vietnam is a life insurance company wholly owned by Sun Life. Currently Sun Life Vietnam has a nationwide network of 62 branches and customer care centres and supports more than 130,000 Clients, offering life, health and wealth management solutions. Sun Life Vietnam has achieved multiple awards such as: The Life Insurance Company with Most Satisfied Clients announced by IDG Vietnam; 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).

About Asia Commercial Joint Stock Bank
Asia Commercial Bank (ACB) is one of Vietnam's largest private sector bank, operating 371 branches and serving over 3.6 million active customers in Vietnam. The bank focuses on Consumer and SME segments and has strong deposit mobilization capability. As at September 30, 2020, the bank maintained a balance sheet of over US$18 billion, which has doubled since 2015.

Notes to Editors:
All figures in Canadian dollars, unless stated otherwise.

Media Relations Contacts:

Investor Relations Contact:

Rajani Kamath

Leigh Chalmers

Associate Vice-President

Senior Vice-President, Head of Investor

Corporate Communications

T. 416-979-6070

Relations & Capital Management

T. 647-256-8201

[email protected]

[email protected]



Sarah James


Head of Communications, Asia


T: +852 6021 5797


[email protected] 


 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/sun-life-announces-15-year-exclusive-bancassurance-partnership-with-asia-commercial-joint-stock-bank-in-vietnam-301175797.html

SOURCE Sun Life Financial Inc.

Copyright CNW Group 2020

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).