Prudential Vietnam, a subsidiary of Prudential plc, has entered into an exclusive 20-year bancassurance partnership with the Southeast Asia Commercial Joint Stock Bank (SeABank) and also become the preferred life insurance provider for the BRG Group.

Prudential Vietnam and SeABank have a shared focus on helping local consumers achieve their financial and protection goals, providing a comprehensive range of customer-centric life insurance solutions.

“Vietnam is an important market for Prudential and has a compelling long-term growth outlook,” said Mr. Nic Nicandrou, Chief Executive of Prudential Corporation Asia. “Our partnership with SeABank is fully aligned with our mission of helping individuals and families in Vietnam.”

“Bancassurance has been a key driver of our recent growth in the country and we are delighted to partner with SeABank,” said Mr. Clive Baker, CEO of Prudential Vietnam. “The combination with SeABank will deliver a leading bancassurance franchise in Vietnam. We will continue to invest in our partnership network alongside our well-established and successful agency force.”

Prudential Vietnam is a leading life insurance company in Vietnam and is a household name synonymous with life insurance, built up over 20 years of operations. It serves over 1.5 million customers and has a nationwide footprint, with more than 360 sales offices in the country’s 63 cities and provinces.

SeABank is a fast-growing bank in Vietnam, with approximately 1.2 million customers and almost 170 branches. “This partnership enables us to offer our growing customer base access to Prudential Vietnam’s market-leading and innovative product suite,” said CEO Ms. Le Thu Thuy. “We look forward to cooperating closely with Prudential Vietnam to deliver a superior customer experience.”

Prudential Vietnam will also become the preferred life insurance provider for the BRG Group, a leading conglomerate in Vietnam with approximately 10 million customers. The partnership is expected to become effective from April.