OREANDA-NEWS. Dai-ichi Life Insurance Company of Vietnam, Limited (“DLVN”), a 100% owned subsidiary of the Dai-ichi Life Insurance Company, Limited (President: Koichiro Watanabe), has built strategic Business Alliance with Ho Chi Minh City Development Joint Stock Commercial Bank established in the Vietnam (“HD bank”). A 10-year exclusive bancassurance partnership agreement relating to life insurance products has concluded, the ceremony to celebrate the business alliance has been held on May 11, 2015, in Ho Chi Minh City.

The execution of long-term bancassurance agreement with major banks of Vietnam is the first time for the Japanese life insurance group.

The HD bank is a commercial bank which owns about 220 branches and 6,000 employees throughout the nation has a broad customer base such as individual customer, corporate client, and investor customer, etc. Through the tie-up, by leveraging the Bank’s extensive network, it is now possible to sell insurance products of DLVN exclusively for 10 years targeting from July 2015.

DLVN has Vietnam’s 4th largest market share (premium income base) of life insurance industry, and it still constantly pursue growth in excess of the business performance by selling the bancassurance products which are expected to be developed by sharing Dai-ichi Life Group's global bancassurance expertise from Japan, India and Indonesia.

By fully utilizing the global tripolar system that includes Japan, the North America and Asia Pacific, Dai-ichi Life Group will continue to further strengthen the insurance business, and create the sustainable value.