The Lane Xang Assurance Public Insurance (LAP), a joint venture between the Vietnam Post and Telecommunication Joint Stock Insurance Corporation (PTI) and Laos Development Bank (LDB) celebrated its fifth anniversary in Vientiane on October 9.
Since it was established in 2010, LAP network has covered all 18 Lao localities. Last year, its revenue reached 20 billion kip (2.5 million USD, 10 times higher than that of 2010, making it the second largest retailer and fourth largest insurer in Laos.
LAO has also been active in social activities for the Vietnamese community in Laos with various activities in different Lao localities.
In 2013, LAP was honoured for its contributions to ASEAN community development.
Addressing the ceremony, PTI General Director Pham Anh Tuan thanked the Party and State of Laos for supporting the firm during its operation, pledging to continue actively engaging in social activities in the country and contribute to the local development.
Meanwhile, LDB General Director Bouline Phommavongsa said he is delighted at achievements that LAP has gained so far with an average annual growth of 130 percent, describing the firm as a bright spot in Laos-Vietnam business affiliation.-VNA
