Development of bancassurance in Vietnam

Thanks to the development of bancassurance, insurance premiums increased considerably in the year 2019/2020, which ended in late June 2020. Life earnings thus increased by 20% over the period.

VIB Bank recorded a 23% increase in its insurance premiums, while Prudential Vietnam recorded a 50% upgrade over one year.

In order to enhance the growth potential and cope with the increasing demand, insurance companies are opting recruiting sales teams. AIA and Prudential Vietnam for instance, have hired hundreds of employees and integrated them into the staff of VietinBank, VPBank, Maritime Bank and other similar institutions.