Banque Franco-Lao (BFL) BRED Group and Prudential Life Assurance (Lao) Company Limited (Prudential Laos) have established a long-term bancassurance partnership to develop and distribute life insurance solutions.
The two firms will collaborate on the solutions that will be provided to the Lao people through BFL’s extensive network spanning Luang Prabang, Pakxe, Savannakhet Vangvieng and Vientiane.
Under the agreement effective from April 27, Prudential Laos will be a key provider of life insurance solutions to BFL’s customers. The partnership aims to enhance BFL’s portfolio of financial solutions and significantly increases Prudential Laos’ access to customers across the market.
Arnaud Caulier, Managing Director of BFL BRED Group, said: “This partnership represents the coming together of two leading financial organisations in Laos, combining BRED Group’s international banking franchise with the insurance and wealth management expertise of Prudential, a reputable market leader with a long-term commitment in Asia.
“Under this partnership, we will work with Prudential Laos to continue developing financial solutions to serve Laos’ fast-growing consumer base and help them fulfil their dreams with greater peace of mind.”
Through the bancassurance partnership, BFL’s retail, wealth and SME customers will gain access to Prudential Laos’ leading suite of life insurance solutions across the bank’s network, as well as via its internet and mobile banking platforms in the future.
Vandaly Souvannasouck, Acting General Manager of Prudential Laos, said: “We are pleased to partner with BFL and leverage on their multi-channel approach to provide more Lao people with our life insurance products, which are designed to meet their evolving needs. We look forward to working closely with BFL to help protect and secure the future of our customers and their families.”
Details of the complete range of Prudential Laos’ solutions are available at BFL branches and online channels, or by contacting BFL’s relationship managers at 021 285 444 or [email protected], or Prudential Laos’ financial consultants at 021 211 123 or [email protected].
BFL BRED Group, better known as BFL, is a joint venture between BRED Banque Populaire (BRED Group) and BCEL. BRED Group was created as a cooperative bank by entrepreneurs in 1919, and has kept this spirit since its creation, along with strong commitments to its communities and stakeholders.
BRED Banque Populaire is a member of BPCE Group, the second largest banking group in France, serving more than 31.2 million customers, employing more than 100,000 people worldwide, and counting 9 million cooperative shareholders. BRED Banque Populaire is established worldwide with subsidiaries in the Horn of Africa (Djibouti), the Pacific region (New Caledonia, Vanuatu and the Fiji Islands) and Southeast Asia.
Information Source: Vientiane Times