Partnerships | May 2020

BFL Bank partners with Prudential

BFL BRED bank and Prudential Laos establish a bancassurance partnership to enhance access to life insurance solutions in Laos

BFL BRED Bank Laos and Prudential Life Assurance (Lao) Company Limited (Prudential Laos) have established a long-term bancassurance partnership that will see the two companies collaborate in the development and distribution of life insurance solutions to the Lao people through BFL’s extensive network, spanning Luang Prabang, Vang-Vieng, Vientiane, Savannakhet and Pakse.

Under the agreement, effective from 27 April 2020, Prudential Laos will be a key provider of life insurance solutions to BFL 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 Lao PDR, 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 Lao PDR’s fast-growing consumer base and help them fulfill their dreams with greater peace of mind.”Through this 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 near 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.”

Find out more about this partnership and the complete range of Prudential Laos’ solutions at BFL branches and online channels, or simply contact BFL’s relationship managers at 021 285 444 or contact@bfl.la, or Prudential Laos’ Financial Consultants at 021 211 123 or info@prudential.la.
 
About Prudential Laos
Prudential Laos is wholly owned by Prudential Corporation Asia. We opened our representative office in Vientiane in March 2015 and received our operating license from Laos Ministry of Finance in April 2016. We offer a suite of life and health insurance products to provide financial protection and savings for the people of Laos. Currently Prudential Laos distributes our products and services through our network of reputable bank partners, our direct financial consultant, and also our latest mobile application – Pulse by Prudential. 

About BFL (Banque Franco Lao Ltd)
BFL is a joint venture between BRED Banque Populaire (BRED Group) and BCEL Public. The bank is celebrating its 10 years in operations in Lao PDR, delivering a full range of retail, business, trade and corporate financial services. BFL has been recognized as the Lao Banking Brand of the Year in 2020. 

BRED is a cooperative Banque Populaire, supported by its 200,000 members and 4.4 billion Euros of equity, created in 1919. It is part of BPCE Group, ranked #17 banking group worldwide in terms of Assets. BRED is established worldwide with subsidiaries located in South East Asia (Laos, Cambodia, Myanmar), the Horn of Africa (Djibouti and Ethiopia), the Pacific region (New-Caledonia, Fiji, Vanuatu, and Solomon Islands). Please visit www.bfl-bred.com for more details on BFL.

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