On October 12, 2023, Shinhan Bank Vietnam Limited ("Shinhan Bank") and Samsung Vina Insurance Company Limited ("Samsung Vina Insurance") have just announced the official signing of a cooperation agreement to distribute distributes Samsung Vina Insurance's property insurance products to Shinhan Bank's corporate customers.
Mr. Kang GewWon - General Director of Shinhan Bank Vietnam and Mr. Ye Young Hae - General Director of Samsung Vina Insurance Company and delegates at the business cooperation signing ceremony
Within the framework of the recently signed cooperation agreement, property insurance products will be distributed through Shinhan Bank's network nationwide, helping Shinhan Bank's corporate customers in Vietnam. Vietnam has access to a new range of insurance services, with the insurance expertise of Samsung Vina Insurance.
At the signing ceremony, Mr. Kang GewWon, General Director of Shinhan Bank Vietnam shared: "I believe that the cooperative relationship will help effectively exploit the potential and existing strengths of both parties to help enhance increasing capacity, creating competitive advantages for Shinhan Bank and Samsung Vina Insurance in the market."
Mr. Ye Young Hae, General Director of Samsung Vina Insurance Co., Ltd., said: "With a business development strategy towards sustainable and effective growth, focusing on risk management and risk sharing risk to customers with high quality services, Samsung Vina Insurance Co., Ltd. and Shinhan Bank show similarities in vision and business development goals. This signing ceremony lays the foundation for the relationship between the two parties and is a premise for further successes in the cooperation between Samsung Vina Insurance and Shinhan Bank.”
The non-life insurance market has changed dramatically in recent years with total insurance premium revenue growing steadily every year. In particular, according to data from the first 6 months of 2023 of the Vietnam Insurance Association, property insurance revenue accounted for 29% and achieved a growth rate of 10.9% over the same period. Through a cooperative relationship with Samsung Vina Insurance - one of the reputable insurance companies in the Vietnamese market, Shinhan Bank expects to bring practical values to business customers, helping business customers have more suitable insurance product options, as well as access comprehensive banking solutions that the Bank offers.
Source: https://vccinews.vn/news/47778/ngan-hang-shinhan-viet-nam-ky-ket-hop-tac-kinh-doanh-voi-cong-ty-tnhh-bao-hiem-samsung-vina.html