Vietnamplus

Non-life insurers have cut back cash dividend rates for 2020 by maximum five percentage points as they prepare for a global economic downturn.

Insurance companies enjoyed an increase in sales in the first quarter of this year.

Japanese insurer Sumitomo Life has registered to buy more than 41.4 million shares of local insurer insurance-finance-banking group Bao Viet Holdings (BVH).

Insurer FWD Group confirmed on November 12 its purchase of Vietcombank-Cardif Life Insurance (VCLI), an unit of Vietnam’s largest listed lender by market value, Vietcombank.

Japanese-based Dai-ichi Life Insurance company has channeled 5.4 billion JPY (50 million USD) into infrastructure development projects in the Mekong region, including Vietnam, Cambodia, and Myanmar.

Insurer FWD Group Ltd. is nearing an agreement to pay about 400 million USD for a unit of the Bank for Foreign Trade of Vietnam JSC (Vietcombank), and a long-term insurance distribution agreement with the bank, Bloomberg reported.

Bao Viet Group posted nearly 8.1 trillion VND (348.2 million) in insurance revenue in the first quarter of 2019, a year-on-year increase of 19 percent.

Banks and insurance companies are ramping up cooperation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.

Prime Minister Nguyen Xuan Phuc wished the Italian life insurance group Generali success in doing business in Vietnam during his reception in Hanoi for the group’s Director General Philippe Donnet.

Over 1,400 health insurance cards for 2018 were presented to near-poor people in Kon Tum city, the Central Highlands province of Kon Tum, on March 8 by life insurer Hanwha Life Vietnam.

Life insurer Manulife Vietnam has said that it has received approval from the Ministry of Finance to increase its chartered capital.

Insurer Bao Viet’s brand value was estimated at 108 million USD by Brand Finance, an UK-based independent branded business valuation and strategy consultancy, up 19 million USD from 2016.

The UK insurer Aviva announced on April 21 that it has acquired VietinBank’s 50 percent stake in its life insurance joint-venture Vietinbank Aviva (Aviva Vietnam).

Canadian life insurer Sun Life Vietnam has signed a three-year agreement with Global Online Financial Solutions Limited under which the latter will distribute its products.

Hong Kong based insurer FWD Group is working to quickly establish its presence in Vietnam as the country has a huge growth potential on insurance market with more than 90 million people.

The Republic of Korea’s Hanwha Life Insurance on November 5 said the company aims to become the fifth biggest insurers in Vietnam by 2020.

Vietnamese shares on October 28 continued losing for a third day, led by financial firms ahead of the US central bank's decision on interest rates.