Ageas gets established in the country

In partnership with the Thai insurer Muang Thai Life Assurance and the Vietnamese bank Military Bank, Ageas, the Belgian insurance company, creates a joint venture in Vietnam.

Called MB Ageas Life, the new entity with a capital of 46 million EUR (50.5 million USD) will underwrite life products through the Military Bank network which has 217 agencies.

Ageas has a 29% stake in the new company while Muang Thai Life Assurance (10%) and Military Bank (61%) share the remaining 71%.