CORRECTED-Vietcombank, FWD Group sign 15-year bancassurance partnership

(Corrects to say FWD, not Singapore-based insurer, in third paragraph)

HANOI, Nov 12 (Reuters) - Joint Stock Commercial Bank for Foreign Trade of Vietnam and insurer FWD Group said on Tuesday they will establish an exclusive 15-year bancassurance partnership in the Southeast Asian country.

Under the agreement, Vietnam’s largest listed lender, better known as Vietcombank, will distribute FWD’s life insurance products, the companies said in a statement, without providing further financial details of the deal.

FWD has agreed to purchase Vietcombank-Cardif Life Insurance, a joint venture between the bank and BNP Paribas Cardif, the companies said.

The transaction is subject to regulatory approvals, according to the statement. (Reporting by Khanh Vu, Editing by Sherry Jacob-Phillips)