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Japanese insurers enter Vietnamese market   2009-03-28 - VietNamNet/VOV

 

The Japanese Group Mitsui Sumitomo Insurance  (MSIG) has established a wholly invested non-life insurance company in Vietnam to expand its business activities in the Southeast Asian country.

The Vietnamese market remains attractive to foreign insurers despite difficulties, said MSIG President and General Director Toshiaki Egashira in an interview with the Vietnam Economic Times. 

MSIG Vietnam officially opened on March 23 amid the global economic crisis that has caused various adverse effects on the country’s economy.

MSIG Vietnam initially targets customers such as Japanese companies and plans to gain profitability in its third year of operation, said its President. 

The company’s strategy is to fully build on the group’s established prestige over the past 110 years to penetrate the domestic market.



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