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November 19, 2020

Sun Life inks bancassurance deal with ACB in Vietnam

By Verdict Staff

Sun Life Vietnam Insurance Company, a subsidiary of Sun Life Financial, has entered into a 15-year exclusive bancassurance partnership with Asia Commercial Joint Stock Bank (ACB) in Vietnam.

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Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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This partnership, which will officially begin in January next year, will utilise ACB’s distribution network of 371 branches to offer Sun Life Vietnam’s life insurance solutions.

Furthermore, it will provide ACB’s 3.6 million clients with access to a range of insurance solutions at different life stages.

The tie-up with ACB is expected will help Sun Life to expand its distribution capabilities and accelerate its growth in Asia.

Sun Life president and CEO Dean Connor said: “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.”

Sun Life Asia president Léo Grépin added: “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.”

Sun Life Vietnam reported 47% sales growth over the 12 months period ended 30 September 2020, compared to the same period last year.

Last year, the insurer signed bancassurance deal with Vietnam’s Tien Phong Commercial Bank to distribute its life insurance products.

In August this year, Sun Life Financial set up a branch in Singapore to offer life insurance solutions, expanding its footprint in Asia region.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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