PVI Holdings And Sun Life Financial Sign An Agreement To Form A Life Insurance Joint Venture

PVI Holdings

and Sun Life Assurance Company of Canada, a wholly-owned subsidiary of Sun Life Financial Inc.

, signed an agreement today to form a joint venture life insurance company, PVI Sun Life Insurance Company Limited (PVI Sun Life). The new company is in line with PVI's development strategy, and further expands Sun Life Financial's footprint in Asia. PVI Sun Life will deliver a suite of innovative life insurance products to customers in Vietnam through multiple sales channels. The company aims to become a market leader in the sector. The joint venture agreement was signed by Mr. Nguyen Anh Tuan, Chairman of PVI Holdings, Mr. Bui Van Thuan, Member of the Board of Directors and CEO of PVI Holdings, and on behalf of Sun Life Financial, Mr. Dean Connor, President and CEO, and Mr. Kevin Strain, President, SLF Asia, in Hanoi, Vietnam. The event was attended by Mr. Nguyen Xuan Phuc, member of the Politburo and Deputy Prime Minister, representatives of Ministries, Agencies and Offices of the Government of Vietnam, Petrovietnam, and by Deborah Chatsis, the Canadian Ambassador to Vietnam. "PVI Sun Life completes PVI Holdings' insurance business network, and delivers on our long term strategy. We are very excited about partnering with Sun Life, an internationally renowned life insurer, to deliver greater choice in life insurance to the people of Vietnam," said Mr. Nguyen Anh Tuan, Chairman of PVI Holdings. "Vietnam's life insurance market has great potential and through PVI Sun Life we will be able to provide new products that are unique in the Vietnamese marketplace," he added.