Foreign capital dominates insurance sectorVietNamNet Bridge - Through merger & acquisitions (M&A), the world’s leading insurance conglomerates have been buying Vietnamese companies, which has helped the former hasten their entry into the Vietnamese market. Many Vietnamese partners have withdrawn capital in joint ventures, while foreign conglomerates have increased their ownership ratio to 100 percent.VietinBank’s capital contributed to VietinAviva, a life insurance joint venture, which has been transferred to the foreign partner – the UK-based Aviva. An analyst said a lot of M&A deals in the insurance market have been made in the last few years. ACE Life Vietnam, for example, has become Chubb Life Vietnam after the merger of the holding company. In early 2017, MBBank launched a life insurance joint venture – MB Ageas Life – with charter capital of VND1.1 trillion, of which it holds 61 percent of capital.

Source: VietNamNet News May 25, 2017 09:11 UTC