The Bao Minh Insurance Corporation and the Australian financial and banking group, Commonwealth announced to transfer the Life Insurance Bao Minh CMG to Dai-ichi Mutual Life Insurance of Japan.
The transfer, which is awaiting approval from State management agencies, will be performed in the first half of this year.
The Life Insurance Bao Minh CMG is the only joint venture of its kind in Viet Nam. It is the fifth largest life insurance company in the country in terms of revenue. The joint venture has 50 representative offices nationwide.
Dai-ichi Mutual Life Insurance is the second largest life insurance firm in Japan. The transfer is part of the company's strategy to expand its operations in Asia.
Source: VNA
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