Leading US Life Insurance company enters Vietnam

The Ministry of Finance has granted establishment license of BIDV Metlife-a life insurance joint venture between the US Metlife Company and the Bank for Investment and Development of Vietnam (BIDV) and BIDV Insurance Corporation (BIC).

BIDV Metlife has chartered capital of VND1 trillion (US$48 million), which Metlife possesses 60 percent, BIDV 35 percent and BIC 5 percent.

Initially, the joint venture will focus on life insurance, health insurance and combined products of these two forms.

By Ham Yen - Translated by Hai Mien

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