Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeYesterday at 6:02 am by Ditartyn

» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeSat Mar 23, 2024 9:25 am by swizzlestick

» ZIGPLACE
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeWed Mar 20, 2024 6:29 am by Zig

» CBD Vape Cartridges
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeThu Mar 07, 2024 2:10 pm by Arendac

» Classic Tony is back
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

» Did Okie Die?
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeMon Mar 04, 2024 11:34 am by Arendac

» Hello all, I’m new
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeWed Jan 31, 2024 8:46 pm by Jonny_5

» The Renfrows: Prophets for Profits, Happy Anniversary!
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeWed Jan 31, 2024 6:46 pm by Mission1st

» What Happens when Cancer is treated with Cannabis? VIDEO
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeWed Jan 31, 2024 8:58 am by MadisonParrish

» An Awesome talk between Tucker and Russell Brand
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeWed Jan 31, 2024 12:16 am by kenlej

» Trafficking in children
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeMon Jan 29, 2024 7:43 pm by kenlej

» The second American Revolution has begun, God Bless Texas
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeMon Jan 29, 2024 6:13 pm by kenlej

» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeSun Jan 28, 2024 3:28 pm by Mission1st

» Tucker talking Canada
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeWed Jan 24, 2024 6:50 pm by kenlej

» Almost to the end The goodguys are winning
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeMon Jan 22, 2024 9:03 pm by kenlej

» Dinar Daily Facebook Page
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeMon Jan 22, 2024 3:34 pm by Ponee

» The Fundamentals of Finance and Pimpy Live
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeThu Jan 18, 2024 7:17 am by Dinarhater

» Why Won't the Iraqi Dinar Scam Die?
Insurance Australia to Buy 30% of Vietnam’s AAA Assurance I_icon_minitimeWed Jan 17, 2024 5:19 pm by RamblerNash

Insurance Australia to Buy 30% of Vietnam’s AAA Assurance

Go down

Insurance Australia to Buy 30% of Vietnam’s AAA Assurance Empty Insurance Australia to Buy 30% of Vietnam’s AAA Assurance

Post by 1alaskan Tue Apr 17, 2012 4:25 pm


Insurance Australia to Buy 30% of Vietnam’s AAA Assurance

VietFinanceNews.com - Insurance Australia Group Ltd., (IAG) the Sydney-based insurer formed in 1925, agreed to buy a stake in AAA Assurance Corp., the Vietnamese insurer said. IAG will hold 30 percent of AAA after the Ho Chi Minh City- based company issues new shares, Do Thi Kim Lien, chief executive officer and chairman of AAA, said yesterday by phone. The stake is valued at less than $20 million, IAG said in a statement to the Australian stock exchange, adding it has the option to raise its holding to 49 percent.

“Vietnam’s insurance market has just started so there are a lot of opportunities to explore,” Lien said. IAG joins German insurer Talanx AG to tap the non-life insurance market in Vietnam that is growing at a 20 percent annual pace. Talanx in August agreed to buy a 25 percent stake in PVI Holdings for 1.9 trillion dong ($91 million) to seek a foothold in the Southeast Asian nation.

“A strategic priority for IAG is to boost its Asian footprint, with Vietnam identified as a target market,” Sydney- based Andrew Tubb, corporate affairs manager at IAG, said today in an e-mail in response to a Bloomberg News request to confirm the stake purchase. “IAG is currently reviewing opportunities in Vietnam, and will update the market should an agreement be reached.”

Asian Expansion

The Sydney-based insurer also said in the stock exchange announcement it expects the transaction to be completed by June. It said its goal is for its business in Asia to make up 10 percent of its gross premium by 2016. In the region, the company said it’s targeting India, China, Thailand, Vietnam, Indonesia and Malaysia. IAG said last week that its Malaysian joint venture, AmG Insurance, entered into a conditional agreement to acquire Kurnia Insurans (Malaysia) Bhd. for about A$480 million that will make it the nation’s biggest general insurer.

Non-life insurance revenue in Vietnam may increase 20 percent to about 24.2 trillion dong in 2012, compared with a 15 percent growth in the life insurance sector, according to a report on the Association of Vietnamese Insurers’ website.

“Vietnam’s insurance market has a lot of potential to continue growing,” said Nguyen Thu Ha, an analyst at Bao Viet Securities Co., a unit of Vietnam’s biggest insurer. “As their income increases, Vietnamese people will spend more money on insurance.”

Non-life insurance density in Vietnam was $10.30 in premiums per capita, compared with $141.80 in Malaysia and $77.60 in Thailand in 2010, according to a report by Swiss Re. (Reuters

http://www.vietfinancenews.com/2012/04/insurance-australia-to-buy-30-of.html

*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant


Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty

1alaskan
Elite Member
Elite Member

Posts : 4668
Join date : 2011-06-21
Age : 41
Location : Planet far far away

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum