Vietnam’s Largest Insurer to Split from Non-Life Insurance.
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The State-run Vietnam Insurance Corporation (Bao Viet) plans to split its non-life business into an independent arm of the corporation next month, aiming to become more competitive with highly competitive foreign rivals. Nguyen Dang Diem, vice chairman of the board of directors, said that the establishment of the non-life company, to be named Bao Viet P&C, is part of a continuous effort to raise the corporation’s competitive capability which has been trailing behind the growing number of foreign insurers. |