March 28, 2024
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FWD completes life acquisition

FWD Group (FWD) has announced that it has secured regulatory approval to proceed with the acquisition of Vietcombank-Cardif Life Insurance (VCLI), a life insurance joint venture between Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and BNP Paribas Cardif.

The addition of VCLI further strengthens FWD’s presence and market share in the Vietnam insurance market and underlines the company’s continued confidence in the long-term growth potential of Vietnam.

Huynh Thanh Phong, FWD Group chief executive officer, said: “Vietnam is one of the fastest growing insurance markets in Asia and we are excited to expand our presence through this significant acquisition. FWD has established itself as a fresh and dynamic insurance challenger brand in a few short years since entering Vietnam and this deal is a firm testament to our confidence in the long-term growth and potential of the Vietnam market.

FWD will shortly be renaming the newly acquired businesses, and the official rebranding will take place progressively in the coming months.

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