The opening ceremony of Chubb Life Vietnams new office in HCM City on Monday. – VNS Photo courtesy Chubb Life Vietnam The insurer Chubb Life in Vietnam inaugurated its new Chubb Tower II building on HCM Citys 369 Nguyen Trai Street in District 1 this week. This is the third sales office of the company in the city. The new premises offer a spacious office environment and training facilities for nearly 1,600 sales managers, representatives and employees, as well as a better customer experience. Lam Hai Tuan, chairman and country president of Chubb Life in Viet Nam said: “We are investing in our presence in HCM City with the opening of a new sales office to better meet growing demand for financial protection in Viet Nams largest and most dynamic market. “This is the 14th anniversary of our operation in the country and we remain as committed as ever to providing superior products and services to meet the needs of the people of Viet Nam and to supporting the local … [Read more...] about Chubb Life opens new office building in HCM City
New china life insurance
Samsung Life seeks to acquire shares in Việt Nam’s largest insurer
Bảo Việt is Việt Nam’s largest life insurer with nearly 200,000 employees and life planners at its 75 branches across the country. — VNA/VNS PhotoViet Nam News HÀ NỘI — Samsung Life Insurance is seeking to make inroads into Việt Nam through an equity investment in Bảo Việt Life, the country’s largest life insurer, Koreatimes reports. South Korea’s largest life insurer said Tuesday it is in talks with Bảo Việt Life to acquire some of the Vietnamese firm’s shares. It is the seventh-largest listed company in Việt Nam. "We can’t comment on details at this point, but it is true the discussion is underway with Bảo Việt," said a Samsung Life Insurance official. "There are hurdles to be addressed regarding some legal issues with the Vietnamese government." Bảo Việt is Việt Nam’s largest life insurer with nearly 200,000 employees and life planners at … [Read more...] about Samsung Life seeks to acquire shares in Việt Nam’s largest insurer
Businesses struggle as cracks appear in China”s economy
More employees are seeking legal help as companies lay off workers or withhold salaries AFP/NICOLAS ASFOURI The world's second-largest economy is losing steam, hitting its slowest growth in almost three decades last year, and flagging further in recent months. While gross domestic product grew at 6.6 per cent in 2018 - a rate that would be the envy of most nations - China's efforts to cut its debt mountain have weighed on the economy. Private businesses in particular face new hurdles as costs rise and financing becomes harder to come by, while the trade war with the United States has not helped. Here is a look at some of the struggles faced by Chinese companies and people: GAME OVER FOR GAMERS Feeding China's addiction to video games seemed an easy bet for Beijing Yixin Technology, a tech startup behind the mobile game Farm Take Home. The game allows players to harvest wheat, raise chickens and plant apple trees - a bucolic refuge from the pressures of urban China. But in real life, … [Read more...] about Businesses struggle as cracks appear in China”s economy
BUSINESS NEWS IN BRIEF 15/1
Azerbaijani investors eye Vietnamese marketAzerbaijani investors with strong financial capacity and professional performance are keen on landing investments in Vietnam, has said Anar Imanov, Azerbaijani Ambassador to Vietnam.In his remarks at a recent workshop themed “Meet Azerbaijan” in Hanoi, the Azerbaijani Ambassador highlighted Azerbaijani enterprises' advantage of plentiful capital and practical experience in implementing projects in Europe, adding that many are seeking investment opportunities in Vietnam.As one of the world’s leading crucial oil and gas producers and suppliers, Azerbaijan also has great potential to boost its bilateral cooperation with Vietnam in three key fields, including tourism, logistics, and agriculture. The diplomat cited a FAM tour jointly held by the Azerbaijan Embassy in Vietnam and Qatar Airways last year as a big effort to bolster tourism cooperation between the two countries.The FAM tour provided many Vietnamese tourism … [Read more...] about BUSINESS NEWS IN BRIEF 15/1
China moves closer to allowing foreigners to control insurance ventures: sources
China moves closer to allowing foreigners to control insurance ventures: sourcesThe Saigon Times Daily A Chinese flag is seen in front of the financial district of Pudong in Shanghai, China, January 19, 2016 – PHOTO: REUTERS HONG KONG/BEIJING (REUTERS) - China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said. The regulator is expected to publish its final guidelines as soon as the first quarter of 2019 and would begin taking applications from interested foreign insurers soon after that, they said Britain’s Prudential Plc and Canada’s Sun Life Financial Inc are among insurers who expressed interest in recent months in owning more of their China operations. And Hong Kong-based FWD Group, owned by tycoon Richard Li, is also in the process of obtaining regulatory approval for a … [Read more...] about China moves closer to allowing foreigners to control insurance ventures: sources