AIG Unit Licensed to Sell Insurance in Vietnam
Thu Dec 22, 2005
NEW YORK (Reuters) - American International Group Inc. (AIG.N: Quote, Profile, Research) said on Thursday that a subsidiary has received a license from the government of Vietnam to operate a wholly owned general insurance company there.
This license is the first general insurance license granted by Vietnam to a U.S.-based insurance organization. It permits AIG to operate a general insurance company which will market property-casualty insurance products to both individuals and businesses, AIG said.
The unit, AIG Vietnam, will be headquartered in Hanoi and expects to begin operations at the start of next year.
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