The Ministry of Finance has granted a license to the BIDV Metlife Insurance Co. Ltd for its establishment and operation in Vietnam.

The company is a joint venture between the leading US life insurer Metlife, Inc. and the Bank for Investment and Development of Vietnam (BIDV) and BIDV Insurance Corporation (BIC).

The joint venture has a charter capital of one trillion VND (48 million USD), with the US giant owning the most 60 percent.

BIDV Metlife initially focuses on providing life and health insurance products.-VNA