US life insurer enters Vietnam
The Ministry of Finance has granted a license to the BIDV Metlife Insurance Co. Ltd for its establishment and operation in Vietnam.
The company is a joint venture between the leading US life insurer Metlife, Inc. and the Bank for Investment and Development of Vietnam (BIDV) and BIDV Insurance Corporation (BIC).
The joint venture has a charter capital of VND1 trillion (US$48 million), with the US giant owning the most 60%.BIDV Metlife initially focuses on providing life and health insurance products.