3:04:20 PM | 22/9/2008
AIG Life Vietnam has confirmed that it will maintain its operations in Vietnam despite disappointed news from the U.S.-headquartered AIG, one of the world’s biggest insurers on bankruptcy brink, Vietnamese state media said Thurs.
Operations of AIG Life Vietnam go as usual, benefits of customers are still ensured because AIG Vietnam set provisions for insurance contracts at 200 per cent higher than required, AIG Life Vietnam was cited by the newswire of VnMedia published by the Vietnam Post and Telecommunications Group as saying.
AIG provides life, non-life, pension insurance services across Asia, including Vietnam, AIG said that it will not reduce capital in any its affiliates in Asia, VnMedia said.
AIG Life Vietnam-a 100 per cent-foreign invested firm, was set up in Vietnam in Feb of 2000 with a registered capital of VND920 billion and a 400-member staff as well as 9,000 insurance agents across Vietnam.
The HCMC-headquartered AIG Life Vietnam has opened rep offices and general agents in 23 provinces and cities throughout the country. At the end of 2007, AIG Life Vietnam had 300,000 customers.
Vietnamese
