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
New china life insurance
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
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
Chubb Life receives 2 awards from Insurance Asia
Khanh Bui, vice president, chief actuary, Chubb Life Vietnam receives the award. — VNS Photo Chubb Life Insurance Vietnam Company Ltd has been conferred the “International Life Insurer of the Year” and the “New Insurance Product of the Year” awards for the Vietnamese market by Insurance Asia, a Singapore-based finance and insurance publication. This is the first year the awards are covering the Việt Nam market. Insurance Asia awards honour Asian insurance companies with the most innovative products, services, projects, and strategies in each market. The judges choosing the winners are drawn from prestigious organisations and corporations such as KPMG, Deloitte, Ernst & Young, and Milliman. Chubb has 83 offices nation-wide, employs more than 30,000 agents and serves nearly 400,000 customers. Lam Hai Tuan, chairman and country president of Chubb Life, said: “These prestigious awards recognise the efforts of all company members. All of us … [Read more...] about Chubb Life receives 2 awards from Insurance Asia
MB Ageas Life thrives on bancassurance
Gary Crist Gary Crist, CEO in Asia of Ageas and vice chairman of the MB Ageas Life Members' Council, spoke to VIR’s Bach Quang about the next steps in a high-potential market such as Vietnam. Could you tell us something about Ageas? Ageas is a listed international insurance group, headquartered in Belgium and with a presence in 15 countries across Europe and Asia. It operates successful insurance businesses in Belgium, the UK, Luxembourg, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines. We rank among the market leaders in most of the countries where we operate. With special expertise in partnerships, we have developed long-term agreements with market-leading local financial institutions and key distributors in these markets. We offer life and non-life insurance solutions to 39 million customers. We adopt a local and omni-channel approach combined with smart innovations to create a positive customer … [Read more...] about MB Ageas Life thrives on bancassurance