Last updated: 16:56 - January 20, 2007
First Japanese life insurance firm operational in Vietnam http://www.nhandan.com.vn/english/business/200107/investment_first.htm
The Finance Ministry officially approved the Dai-ichi Vietnam Life Insurance firm on January 18.
This is the first Japanese life insurance company allowed to operate in Vietnam and the first one with 100% foreign capital.
Dai-ichi Vietnam Life Insurance was created by the transfer of ownership from the Life Insurance Bao Minh CMG joint venture company (Bao Minh Insurance Corporation and the Australian financial and banking group Commonwealth) to its current holder Dai-ichi Mutual Life Insurance of Japan. Dai-ichi Mutual Life Insurance, the second largest life insurance firm in Japan, is ranked sixth in the world in terms of revenue.
Dai-ichi Vietnam now has nearly 100,000 insurance contracts, its first year's revenue in 2006 were VND 126 billion (US $7.8 million). (VNA)
© All rights, including design and copyright are owned by NhanDan Online.