Vietnamese insurers are seeking strategic partners

The Vietnamese insurers are looking for strategic partners keen on investing in their capital in order to improve their  competitiveness.VienDong Assurance Corporation (Vass) has announced its alliance with Dong Tam Stock Corporation, a big manufacturer of materials, and with Viet Tin Investment and Trade Joint Stock Company. Agribank Insurance Company (ABIC) is cooperating with Swiss Re for the establishment of agricultural insurance schemes. The Vietnamese Insurance Association confirms that local insurers are likely to attract even foreign partners as they are making profits. Moreover, the Vietnamese economy is strong and costs pertaining to market entry for new entities are very important.