Italian giant insurer AssicurazioniGenerali will open its representative office in Hanoi next year,continuing to pursue its strategy to expand it presence in Asianmarkets.
Vietnam is the seventh nation in Asia that Generali openedrepresentative office following China mainland and Hong Kong, India,the Philippines, Indonesia, Thailand and Japan.
Vietnam is a strategic country as it will help the companystrengthen its position in a region with high growth potential,Generali Chief Executive Sergio Balbinot told Italy’s leading economicdaily Il Sole 24 Ore on Aug. 26.
Balbinot attributed Vietnam’s economic performance in recent years andthe Government’s favourable conditions for the insurance’s developmentto his company’s choice to open office in the country.
According to the daily, Generali’s presence in Vietnam is a vividmanifestation on Vietnam’s insurance potential, particularly moreopportunities for foreign insurers as its membership in the World TradeOrganisation.
Generali will participate in a high competitive environment becausemany foreign giant insurance firms are operating in Vietnam, the papersaid.
The Italian insurer expects to provide basic insurance services, before launching wider services in following years.
Established in 1831, Generali mainly operates in Europe, theMiddle-East and East Asia . It is the world’s fourth largest insurancefirm in terms of revenues after France ’s AXA, Germany Allianz and theUS’s Berkshire Hathaway. The Italian insurer’s total revenue reached70.55 billion EUR in 2008./.
Vietnam is the seventh nation in Asia that Generali openedrepresentative office following China mainland and Hong Kong, India,the Philippines, Indonesia, Thailand and Japan.
Vietnam is a strategic country as it will help the companystrengthen its position in a region with high growth potential,Generali Chief Executive Sergio Balbinot told Italy’s leading economicdaily Il Sole 24 Ore on Aug. 26.
Balbinot attributed Vietnam’s economic performance in recent years andthe Government’s favourable conditions for the insurance’s developmentto his company’s choice to open office in the country.
According to the daily, Generali’s presence in Vietnam is a vividmanifestation on Vietnam’s insurance potential, particularly moreopportunities for foreign insurers as its membership in the World TradeOrganisation.
Generali will participate in a high competitive environment becausemany foreign giant insurance firms are operating in Vietnam, the papersaid.
The Italian insurer expects to provide basic insurance services, before launching wider services in following years.
Established in 1831, Generali mainly operates in Europe, theMiddle-East and East Asia . It is the world’s fourth largest insurancefirm in terms of revenues after France ’s AXA, Germany Allianz and theUS’s Berkshire Hathaway. The Italian insurer’s total revenue reached70.55 billion EUR in 2008./.
