VietBank, AIG Life ink cooperation dealBy Thu Thuy - The Saigon Times DailyThe bank in its statement released on Tuesday said that the two parties will VietBank headquartered in the Mekong Delta’s Soc Trang Province will open a branch in Danang on April 15 and plans to have 40 branches and transaction offices nationwide by the end of this year. … [Read more...] about VietBank, AIG Life ink cooperation deal
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ACE Life posts high growth in premiums
ACE Life posts high growth in premiumsBy Thu Thuy - The Saigon Times DailyHCMC - ACE Life Insurance Co. Ltd. has announced its premiums in the third quarter this year increased by 64% from the same period last year.This growth has pushed ACE Life’s premiums in the first nine months to VND319 billion, or US$ 18 million, iACE Life was the first insurer introducing the Universal Life product to Vietnam in March 2006. It now offers a full range of Universal Life products that allows individuals and groups between the ages of zero and 80 who have different financial capabilities and social economic status to apply.The insurer has implemented several initiatives to improve the quality of customer care service, including the launch of an online policy information service, the Quality Control Center, and an SMS service to policyholders.ACE Life Vietnam is wholly-owned by ACE INA International Holding Limited, a member of the ACE Group of Companies, one of global leaders in insurance and … [Read more...] about ACE Life posts high growth in premiums
PVI, Sun Life team up for insurance joint venture
PVI, Sun Life team up for insurance joint venture By Minh Duc - The Saigon Times Daily HANOI – PVI Holdings last week inked a cooperation contract with Canada-based Sun Life Financial to set up a life insurance firm named PVI Sunlife Insurance Co. Ltd. Under the contract, PVI Holdings will own 51% of chartered capital of PVI Sun Life while the rest is held by the Canadian partner. Both sides are completing legal procedures for the establishment, and the new company is set for official operation by late this year. PVI Holdings, a large non-life insurance company in Vietnam, is holding a market share of 21.3%. PVI Holdings earned a total insurance premium of US$202 million last year with a revenue growth of 25% from the previous year. … [Read more...] about PVI, Sun Life team up for insurance joint venture
Life Resort Danang to debut in March
Life Resort Danang to debut in March By Nhan Tam - The Saigon Times Daily HCMC - Life Resort Danang owner Hoang Tra Travel and Trading Co. and Life Resorts Management on Monday announced that the 187-room resort on Bac My An Beach would open on March 20. "Although we're opening a resort on the beach, this region's appeal extends far beyond the strand (coast) to the new golf courses, to the Marble Mountains just a few kilometers up the road, to the nearby UNESCO World Heritage Sites at Hoi An, Hue and My Son," said Chris Duffy, general director of Life Resorts. "We reviewed many potential international operators at the five-star level," said Nguyen Thi Tuy Van, general director of Hoang Tra Travel and Trading Co. Ltd. "But Life Resorts, with its history of success in Vietnam, its sense of style and its plan, made more sense than any other." This will be the fourth Life Resort facility in Vietnam after Hoi An, Quy Nhon and Mui Ne. The Life Resort Halong will open next year. … [Read more...] about Life Resort Danang to debut in March
Dai-ichi Life moves to new building
Dai-ichi Life moves to new building Tuong Nguyen By Tuong Nguyen - The Saigon Times Daily HCMC – Dai-ichi Life Insurance Company of Vietnam Ltd. (Dai-ichi Life Vietnam) on Sunday opened its headquarters at 149-151 Nguyen Van Troi Street in HCMC’s Phu Nhuan District. Dai-ichi Life Vietnam hires the 12-floor building with total space area of over 6,500 square meters to provide working areas to more than 500 financial consultants and staff members. The company obtained total new premiums of over VND413 billion in this year’s January-September, a year-on-year growth of 23%, according to Takashi Fuji, chairman and general director of the firm. … [Read more...] about Dai-ichi Life moves to new building