UK insurer takes full ownership of life insurance joint venture

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).
UK insurer takes full ownership of life insurance joint venture ảnh 1Illustrative image (Source: Internet)
Hanoi (VNA) – The UKinsurer Aviva announced on April 21 that it has acquired VietinBank’s 50percent stake in its life insurance joint-venture Vietinbank Aviva (AvivaVietnam).

Accordingly, the Aviva Vietnam hasbecome wholly-owned by Aviva with a focus on expanding its business across allkey distribution channels and simplifying Aviva’s operating structure in theregion.

The insurer also signed adistribution agreement with VietinBank (Vietnam Commercial Bank for Industryand Trade) to sell life and health insurance products through the bank’snetwork of more than 1,100 branches and transaction offices.

Aviva Regional Executive for China,Indonesia and Vietnam Randy Lianggara pledged to expand distribution channelsand adopt digital technology to improve service quality in the country.

Established in 2011, AvivaVietnam has become one of the top 10 insurers in Vietnam, which is one of thecountries with the world’s lowest insurance penetration (below 1 percent of thegross domestic product).

Aviva now provides life andnon-life, health, asset management insurances for 33 million customers across16 markets worldwide. It is the leading insurance provider in the UK and is growingwell in Europe, Asia and Canada.-VNA
VNA

See more

At the meeting (Photo: VNA)

PM urges business leaders to drive economic growth

Prime Minister Pham Minh Chinh encouraged businesses to actively engage in large-scale national projects, such as the North-South high-speed railway, standard-gauge railways connecting with China, urban railways, and the nuclear power project.

Production at Minerals Holding Corporation in Lao Cai province. (Photo: VNA)

Vietnam’s industrial production inches up 0.4% in January

According to Director of the GSO’s Industry and Construction Statistics Department Phi Thi Huong Nga, Vietnam could achieve breakthrough industrial growth in 2025 and beyond by leveraging its advantages and accelerating digital and green transformation as well as meeting the increasingly stringent requirements of the international market.

At an automotive exhibition in Shanghai, China. (Photo: AFP/VNA)

Chinese electric vehicles drive back into Vietnamese market

About a decade ago, Chinese car brands like Zotye Z8, Beijing X7, and Brilliance V7 entered the Vietnamese market to limited success. But a new fleet of modern Chinese vehicles began to gain traction in the Vietnam market last year.