Bancassurance - The cooperation between banks and life insurers: The development and upcoming challenges

Since the restructure in 2012, Vietnamese banks have effectively developed their retail banking operations. Among these operations, the cooperation between banks and life insurers (also known as bancassurance) helps banks earn more non-interest income, diversify their income sources, and lower their dependences on credit operations. This paper analyzes the recent development of bancassurance, and benefits and upcoming challenges for the development of bancassurance in Vietnm. Based on the paper’s findings, some recommendations are proposed.