Vietnam to take solutions to sustainable insurance market

Wednesday, 2016-08-24 17:25:20
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NDO/VNA – Vietnam’s state management agencies will form a series of measures in order to promote sustainable development of insurance market, a Vietnamese legislator has said.

Solutions will focus on fine-tuning policies and mechanisms concerning insurance business, simplifying administrative procedures and intensifying supervision and inspection of insurance firms, National Assembly Vice Chairman Phung Quoc Hien told President and Executive Director of the life insurance group AIA Mark Edward Tucker in Hanoi on August 23.

During the meeting, Hien praised the firm for its contributions to Vietnam’s socio-economic development since it commenced operations in the country in 2000.

He hoped AIA would continue expanding its services and products in Vietnam.

Acknowledging the firm’s proposals, he suggested sharing experience in building laws relating to insurance business and helping Vietnam to improve the legal framework.

Mark Edward Tucker pledged to share skills on insurance operation with Vietnam, affirming the firm’s long-term business target.

AIA wishes to invest in Vietnam’s Government bond, especially long-term bonds, he added.