The Hanoitimes - Domestic non-life insurance companies expect the additional investment capital will help them expand distribution networks and enlarge market shares in the prosperous but competitive market. Bao Long Insurance Corporation has so far approved a plan to increase capital through share issue, with priority for foreign investors. Accordingly, the company’s capital will increase from the current VND600 billion (US$25.53 million) to VND1 trillion (US$42.55 million). Currently, Saigon Commercial Bank and Eximbank are two large shareholders of Bao Long, holding 81.1 percent and 6.51 percent of the insurer’s charter capital, respectively. Bao Minh Insurance Corporation gets investments from France’s AXA Insurance Shareholders of AAA Assurance Corporation have also planned to issue shares valued at VND310 billion (US$13.19 million) for capital hike after getting a nod from the Ministry of Finance. AAA’s board of directors expected the issue will be … [Read more...] about Non-life insurance companies in Vietnam open doors for more investments
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Liberty Insurance ranks in top 10 best non-life insurance companies in 2018
Clients study Liberty Insurance’s products. — VNS Photo Liberty Insurance has been named among the top 10 non-life insurers in Viet Nam for 2018. It is also the only limited liability company and the first 100 per cent foreign direct investment company to be ranked in this list, according to independent research compiled by Vietnam Report. Insurance firms were selected based on financial capacity, media credibility and client satisfaction. “Vietnam Report’s research shows the new trends in the insurance industry; technology, product development and networks. This aligns perfectly with the strategic vision Liberty has been developing to optimise product and service experience for our customers," the company said in a statement. Liberty Insurance is a member of Liberty Mutual Insurance, a Boston-based diversified global insurer established in 1912. As of December 31, 2017, Liberty Mutual Insurance had US$125.6 billion in consolidated assets and $38.3 billion in … [Read more...] about Liberty Insurance ranks in top 10 best non-life insurance companies in 2018
Insurance company assists disadvantaged children in Quang Binh
Bicycles presented to pupils (Photo: PANO)Additionally, AIA provided two sets of computers to the Dong Hoi SOS Village. According to Mr. Wayne Besant, AIA General Director, through the program, the AIA wants to share love and bring presents to disadvantaged children in Vietnam. “We are glad to work with the National Fund for Vietnamese Children to disseminate information for raising social awareness on the protection of child rights, and joining hands to help people live longer, healthier and better,” he said. In 2018, 12 events of the program are expected to be held across the country, with some 2,700 bicycles and 100 life insurance contracts (worth VND20 million each) to be presented to disadvantaged children./. Compiled by BTA … [Read more...] about Insurance company assists disadvantaged children in Quang Binh
Insurance companies may let down Carina Plaza residents
People suffering damages from the fire at the Carina Plaza building may not receive compensation from insurance companies. Victims of the fire may not receive compensation from insurance firms According to the authorities, the Management Board of Carina Plaza had not been elected until the time of the fire. Therefore, in this case, the insured subject may only be the building’s investor. This also means that if the building's management violated the insurance contract on fire prevention and fighting for assets, they could be refused compensation, according to Circular No.220/2010/TT-BTC. “In fact, the fire prevention system in this building seriously violated regulations as the sprinkler system had no water to spray, the fire alarms were inactive, and there was no water in the fire hydrant. There were many other issues, including the fact that the management board was not elected according to regulations, but the investor assigned an administrative for the … [Read more...] about Insurance companies may let down Carina Plaza residents
Why buying shareholder protection insurance might be the wisest moves you ever make
There may be very good reasons why an insurance culture isn’t as well embedded in Viet Nam as elsewhere, but shareholder protection policies really should be on top of your to-do list. Here, “Outside Looking In” explains why these are vital safety nets for business people and their investors. The close-knit family units that are the foundation of Vietnamese culture seem to have created an aversion to insurance. But while knowing the family will always be your safety net in life is a wonderful thing, in the business world it really pays to invest in more formal protection. After all, your business represents not only the livelihood of you and your family, but also that of your employees and fellow stakeholders. One of the most damaging events a business can fall victim to is the death of a major stakeholder. Should a business-owner die unexpectedly, the event can have a serious impact on their enterprise, not to mention the shareholder’s family. When it comes to … [Read more...] about Why buying shareholder protection insurance might be the wisest moves you ever make