ACE Debuts Non-life Insurance Service in Vietnam

ACE Asia Pacific, an arm of the world-leading insurer and re-insurer ACE Group, has received a licence to set up a company to provide non-life insurance services in Vietnam. The ACE Insurance Co. Ltd is considered a perfect supplement to the life insurance activities of ACE in Vietnam for more than one year.

 

ACE began providing life insurance services in Vietnam in September 2005 and now has more than 2,000 representative agents. It recorded revenues of US$2.3 million in the first 11 months of 2006. Over the past few years, ACE has carried out many initiatives to develop the Vietnamese insurance market via specialised seminars. ACE also takes part in community development activities such as building schools for students in poor areas and granting scholarships to outstanding students of poor families.