VIB - Prudential update strategic partnership agreement, reaffirming commitment to enhancing customer experience

Ho Chi Minh City, June 2, 2026 - After more than a decade of partnership, Prudential Vietnam Assurance Private Ltd. (“Prudential”) and Vietnam International Bank (“VIB”) continue to upgrade their strategic cooperation model by updating their partnership agreement, with the aim of raising standards in bancassurance in Vietnam.

The new agreement not only marks the next stage in the partnership between two leading financial institutions but also reaffirms the shared commitment of Prudential and VIB to building a bancassurance model centered on advisory quality, transparency, and customer experience.

Since 2015, Prudential and VIB have established and implemented a strategic partnership in bancassurance. In 2023, the two parties further extended their cooperation through 2036 - one of the market’s notable long-term commitments - reflecting both organizations’ orientation toward sustainable, long-term bancassurance development with a strong focus on customer experience quality.

What distinguishes the Prudential - VIB partnership model lies not only in its scale, but also in its sustainable development orientation and customer-centric approach. The two organizations were among the pioneers in incorporating the “policy persistency ratio” into their partnership agreement - an indicator that reflects customer satisfaction and the tangible value customers receive, rather than focusing solely on sales growth. This direction is becoming increasingly important as the bancassurance market enters a phase where suitability, transparency, and advisory quality are prioritized more than ever. In parallel, a “Joint Customer Conduct Committee” has been established to oversee advisory quality and ensure that financial solutions are distributed in alignment with the actual needs of different customer segments.

The Prudential Customer Service Center on Tran Cao Van Street, Ho Chi Minh City

To date, the partnership between Prudential and VIB has helped protect nearly 400,000 customers, creating a foundation for both parties to further develop the model in a more transparent, sustainable, and experience-led direction. This also serves as the basis for both sides to continue upgrading the partnership model in the new phase, toward a bancassurance experience that is more transparent, professional, and sustainable, while further strengthening long-term trust and shared value with customers.

Mr. Matthew Min, Chief Partnership Distribution Officer of Prudential Vietnam, shared: “In Prudential’s 2026 development strategy, the partnership with VIB remains a key pillar in our journey to advance the bancassurance model. We believe that the combination of Prudential’s leading insurance expertise and VIB’s strong financial ecosystem will continue to expand customers’ access to more suitable financial solutions - from protection and wealth accumulation to proactive future planning with confidence and long-term support.”

VIB staff accompanying customers in planning protection and financial solutions

In the new phase of partnership, Prudential and VIB will continue implementing a model anchored in advisory quality, strengthening the ability to understand customers’ long-term financial needs and moving toward more personalized solutions tailored to each customer journey. Both parties will also continue standardizing advisory processes, enhancing quality monitoring capabilities, and improving the suitability of financial solutions for distinct customer groups. At the same time, they will accelerate the application of technology and the enhancement of digital platforms to support advisors, making the advisory journey more transparent, clear, and convenient for customers.

Through an integrated banking–insurance ecosystem, customers can access financial solutions that match different life stages, ranging from health protection and financial accumulation to long-term investment. The product portfolio currently distributed through VIB includes PRU-Bảo Vệ Tối Đa, PRU-Đầu Tư Vững, along with other supplementary protection solutions.

A shared feature of these solutions is their high degree of flexibility and personalization, enabling customers to proactively choose among approaches focused on risk protection, long-term wealth accumulation, or a combination of both protection and asset growth - depending on their life stage and financial capacity. The benefit structure is designed in multiple layers, from protection against death, disability, and critical illness to health care, with the flexibility to customize and add extended benefits based on the actual needs of customers and their families.

Together with the launch of VIB Privilege Banking, VIB’s priority customers will have greater opportunities to access comprehensive investment solutions through the partnership ecosystem with leading partners such as Prudential - where financial protection, accumulation, and long-term wealth planning solutions are integrated into a more seamless and personalized financial experience for each customer.

Ms. Tuong Nguyen, Deputy Chief Executive Officer and Head of Retail Banking at VIB, said: “VIB is always committed to delivering a comprehensive, transparent, and convenient financial experience for customers. In VIB’s retail banking strategy, bancassurance is part of the journey that helps customers proactively protect their finances, manage assets, and plan in a way that is more aligned with the needs of each life stage. Continuing to elevate our partnership with Prudential not only contributes to improving service quality but also enables customers to access financial protection solutions aligned with international standards through a professional, consistent, and customer-centric advisory experience.”

With a partnership foundation built and validated over more than a decade, Prudential and VIB expect to continue playing a pioneering role in driving the sustainable development of Vietnam’s bancassurance market - where advisory quality, solution suitability, and customers’ long-term trust are increasingly becoming essential foundations for market growth.