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Insurance groups latching onto Vietnam’s market potential

December 30, 2021 by vir.com.vn

Insurance groups latching onto Vietnam’s market potential Kyobo Life Insurance, South Korea’s third-largest insurer, stated that it is negotiating the purchase of shares with Bao Long Insurance and BIDV Metlife as one of its initial moves penetrating Vietnam’s insurance landscape. Kyobo Group chairman and general director Pyun Jung Bum expressed the group’s interest to invest in healthcare and startups to contribute to Vietnam’s digital transformation on the official visit of Vietnam’s National Assembly Chairman Vuong Dinh Hue to South Korea in December. Chairman Hue praised the group’s decision to invest in Vietnam and stated that the Vietnamese life insurance industry has enormous potential, but the competition is increasingly harsh. The South Korean insurer has been reportedly restarting its initial public offering (IPO) drive despite a lengthy legal fight with key financial backers over the exercising of option rights, according to Ked Global, a digital media platform … [Read more...] about Insurance groups latching onto Vietnam’s market potential

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