Generali Vietnam Life (GVL) yesterday officially opened its headquarters in HCM City on May 10.

"The establishment of Generali in Vietnam is a key component of our group's expansion strategy in the region, and increases our presence in Asia to a total of eight markets," said Terence Wong, head of the company's Southeast Asia operations.

To mark the opening, the company launched its Individual Life and Group Business products to the market after being granted a business license in April last year by the Ministry of Finance.

Generali Vietnam General Director Lam Sui Kong believes Vietnam 's low insurance density, around 8.6 USD premium per capita, and insurance penetration at 0.7 percent premium per GDP, provides large room for business growth.

Generali has an initial charter capital of 600 billion VND (28.5 million USD). /.