According to the agreement, the two parties will terminate their exclusive insurance distribution partnership. The legitimate and legal rights of customers under insurance contracts signed with Manulife will be guaranteed by Manulife and Techcombank commits to accompany customers.
Manulife Vietnam - a leading life insurer and Techcombank - a leading private bank in Vietnam have started a strategic partnership since 2013, with the common goal and commitment to bring the best products and services to meet the growing financial and insurance needs of customers.
During the cooperation period, both parties have achieved many significant achievements in providing optimal life and health insurance solutions to customers. Both Manulife Vietnam and Techcombank are proud of the achievements they have made together and always have the highest respect for each other.
In the context of many changes in the market and strategies of both parties along with new requirements of the Law on Insurance Business, in recent times, Manulife Vietnam and Techcombank have had discussions on cooperation terms to adapt to the needs of both parties and ensure long-term benefits for customers.
After careful consideration and discussion, Manulife Vietnam and Techcombank have decided to terminate their exclusive insurance distribution partnership effective October 14, 2024. After this date, Manulife's insurance products will cease to be distributed through Techcombank. Techcombank will continue to support and guide customers to contact Manulife when they need support regarding insurance contracts signed with Manulife. This decision was made with the utmost respect for each other's goals and business directions, while ensuring the highest legitimate and legal rights of customers.
The termination of this partnership will not affect the rights and interests of customers who have participated in Manulife Vietnam's insurance contracts through Techcombank. All contractual rights of customers will remain unchanged and will be fully guaranteed by Manulife. At the same time, Techcombank is committed to accompanying Manulife and customers to ensure a smooth transition, helping customers understand that there will be no changes to their insurance contracts and feel secure in continuing to maintain their insurance contracts with Manulife Vietnam.
Customer care services and benefits related to insurance contracts purchased through Techcombank will continue to be handled by Manulife Vietnam staff, ensuring speed and convenience for customers.
As a life insurance company under Manulife Financial - a leading financial group from Canada with over 130 years of experience and currently serving more than 35 million customers in the North American, European and Asian markets - Manulife Vietnam will continue to distribute its insurance products through existing agency distribution channels and other partner banks, and will continue to expand other distribution channels to meet the diverse needs of customers.
With the vision of “Transforming the financial industry, Enhancing the value of life”, Techcombank continues to implement the customer-centric strategy, committed to continuing to bring valuable financial solutions and the best experiences to customers including life and non-life insurance products in the coming time.
Manulife Vietnam and Techcombank would like to express our sincere gratitude for the trust and support of our customers, partners and stakeholders over the past time, and pledge to continue operating with a sense of responsibility towards customers, while constantly improving and innovating in the insurance and banking sectors to bring customers increasingly better products, services and experiences.
