HSBC, Bao Viet introduce insurance services

HSBC Vietnam, a wholly-owned unit of Europe’s biggest bank HSBC Holdings, Monday said it would join insurer Bao Viet in launching insurance services for individuals in Vietnam.

The partners plan to offer endowment insurance, a combination of life and disability insurance.

Nguyen Duc Tuan, CEO of Bao Viet Life Corporation, said Bao Viet’s partnership with HSBC Vietnam would help strengthen its business thanks to HSBC’s large pool of customers.

HSBC was licensed to open its Vietnam unit last month. Bao Viet Life Corporation is the life insurance arm of Bao Viet Holdings financial-insurance group, which is 10 percent owned by HSBC.

Thanhnien

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