Under the deal, the International Assurance Inc, or AIA will launch the insurance product via the Bank for Investment and Development of Vietnam (BIDV), designed to insure client incomes, loans and other financial resources.
AIA, part of the US leading AIG group, has set up comprehensive cooperation with BIDV since 2005, under a contractual agreement.
Accordingly, AIA has sold its products via BIDV and carry out investment activities with BIDV while the latter considers a credit limit for AIA.
The two sides plan also cooperate in other securities services.
AIA has delivered a range of products via four banks including BIDV, the Vietnam International Bank (VIB), the Southern Bank, and Hong Kong Shanghai Banking Group (HSBC).
BIDV is one of Vietnam's largest State-owned banks having payment relations with more than 800 banks around the world. Its contract with AIA has laid the foundation for a long-term relationship with AIG.
Source: Thanh Nien
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