Received a licence from the Ministry of Finance of Vietnam to open a representative office in Hanoi
Assicurazioni Generali SpA has received a licence from the Ministry of Finance of Vietnam to open a representative office in Hanoi. This will aid the Italian insurer to sell its product in 2010, reported The Wall Street Journal.
The Trieste-based insurer added that it anticipates regulators of Vietnam to issue the operating licence in 2010. For the last three years, Generali has been expanding its operations in Asia, the Middle East and Central and Eastern Europe, reported ADVFN.
Sergio Balbinot, chief executive of Generali, has stated that Vietnam is a strategic country as it will help the company strengthen its position in a region with high growth potential.
Assicurazioni Generali SpA is an Itlay-based insurance company operating primarily in Europe, the Middle East and East Asia. The company is represented by Future Generali in India, a joint venture of Future group and Assicurazioni Generali.