Cathay non-life insurer enters Vietnamese markets

(ĐN)- Cathay Vietnam Non-life Insurance Co Ltd under Taiwan-based Cathay Financial Group officially started operation in HCM City on December 8 with its initial capital of VND300 billion

Cathay Insurance will offer insurance products such as asset insurance, transportation insurance, short-term health insurance, and other specific insurance products in Vietnamese markets.

The company will initially focus on HCM City before expanding to all major cities, including Ha Noi, Hai Phong and Can Tho in the next five years.

At present, Vietnam has 51 insurance firms, including 29 enterprises operating in non-life insurance sector, 11 life insurers, one re-insurance firm and 10 insurance brokerage ones.

Reported by K.L