HO CHI MINH CITY, Vietnam, June 20, 2023 /PRNewswire/ -- In the Bank's efforts to promote financial inclusivity, Hong Leong Bank Vietnam ("HLBVN" or the "Bank") has started providing its first range of life insurance solutions - Premier Choice Universal Life and Premier Youth Universal Life insurance packages, in partnership with Chubb Life Vietnam.
(Middle) Nguyen Hong Son, Country President, Chubb Life Vietnam and Duong Duc Hung, General Director, HLB Vietnam ink partnership deal
The launch is timely as more Vietnamese seek to get life insurance solutions, driven by the growing awareness of the benefits of insurance and increasing disposable income for investment and protection of their future. This has made Vietnam a key life insurance market in Asia, with almost 14 million contracts signed by 2022 and a premium growth of 12% compared to 2021.
Duong Duc Hung, General Director of HLBVN said, "We are committed to catering to our customers' needs by providing a range of wealth management and preservation tools that not only protect our customers, but also makes their money work harder for them. We are honored to embark on this partnership with Chubb Life Vietnam to provide our first range of life insurance products to customers in Vietnam that will equip them with comprehensive protection packages as well as diversify their wealth preservation and risk management portfolios.
"Chubb Life is renowned worldwide for its high-quality products and packages, good value for money, excellent service, and strong stability, which are promises that we look to deliver with all our products. With more life insurance products in the pipeline, we believe this is the start of a strong, strategic partnership that will add value to our customers."
Yam Yew Kit, Head of Personal Financial Services of HLBVN, emphasised that the new life insurance solutions are designed to be compatible with customers' lifestyles and cater to customers' specific needs. "We believe that every customer deserves access to a comprehensive suite of financial tools that ensures financial protection for themselves and their next of kin. As a bank that is "Built Around You", we are proud to be able to offer more wealth preservation packages so our customers are protected and have peace of mind when an emergency arises. This is our first step forward in expanding our product portfolio to meet the diverse needs of our customers, and we aim to continue doing so as the Bank grows and expands."
For more information, please visit https://www.hlbank.com.vn/en/personal-banking/home.html
