By Adria Calatayud

Prudential PLC said Wednesday that its Vietnam subsidiary and lender Vietnam Maritime Commercial Joint Stock Bank, known as MSB, have renewed their strategic partnership for a 15-year term and expanded the deal's geographical scope.

The U.K. insurer said the expanded bancassurance partnership includes North Vietnam, meaning that Prudential Vietnam Assurance Private Ltd. will become MSB's single partner nationwide.

Under the renewed partnership, Prudential Vietnam and MSB will expand into new segments, including digital, the U.K. insurer said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

March 03, 2021 04:05 ET (09:05 GMT)

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