Germany's Allianz wins Vietnam insurance licence
HANOI - Wednesday that it had been
awarded, together with its French
subsidiary AGF, a general insurance
licence in Vietnam.
It said in a statement Allianz and
AGF would become the first foreign
insurers to have a wholy-owned
subsidiary in Vietnam.
In line with the countrys regulations
the licence has been granted for 30
years.
Allianz said said the joint
Allianz-AGF subsidiary will offer
general insurance including personal
accident, property and casualty,
transit, fire and loss of profit
insurance to foreign corporations and
individuals.
Allianz said its main focus will be ``to
write industrial and engineering
business for foreign investment
enterprises.''
Reuters - July 7, 1999.
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