The Vietnamese Ministry of Finance has granted an operating licence tothe Generali Vietnam Life Insurance Company, a branch of Italy’s leadinglife insurance group Assicurazioni Generali S.p.A.
Wholly owned by the Generali group, the company is headquartered in HoChi Minh City, where a representative office opened at the end of 2009,Generali said on April 21.
Generali highly valued theuntapped potential of the Vietnamese insurance sector, as evidenced byits growth rate of 22 percent last year, a population of 88 millionpeople coupled with a low insurance penetration ratio of 1.6 percent ofGDP and a domestic saving ratio close to 30 percent of GDP.
Last year, Generali’s revenues from insurance operations in Asia roseby 43.6 percent. Established in 1831 in Trieste, last year,Assicurazioni Generali S.p.A was assessed the world’s second largestinsurance supplier in terms of profitability, behind AXA group ofFrance./.
Wholly owned by the Generali group, the company is headquartered in HoChi Minh City, where a representative office opened at the end of 2009,Generali said on April 21.
Generali highly valued theuntapped potential of the Vietnamese insurance sector, as evidenced byits growth rate of 22 percent last year, a population of 88 millionpeople coupled with a low insurance penetration ratio of 1.6 percent ofGDP and a domestic saving ratio close to 30 percent of GDP.
Last year, Generali’s revenues from insurance operations in Asia roseby 43.6 percent. Established in 1831 in Trieste, last year,Assicurazioni Generali S.p.A was assessed the world’s second largestinsurance supplier in terms of profitability, behind AXA group ofFrance./.
