HSBC, Bao Viet cooperate in providing cargo insurance service

The Hong Kong-Shanghai Banking Corporation (HSBC) announced on July 24 that it has joined hands with the Bao Viet Insurance Corporation to provide a marine cargo insurance service.

The cooperation has made HSBC one of the first among foreign banks to distribute such an insurance service in Vietnam and helped strengthen the strategic cooperation between HSBC and Bao Viet Corp.

Marine Cargo Insurance is designed to insure goods against unforeseen losses during shipment by sea, air or land. With the service, corporate customers can feel secure about their operations, even in the event of lost or damaged cargo.

HSBC is now the largest foreign bank in Vietnam while Bao Viet is affirming its leading position in the Vietnamese insurance market.

VNA

>   Forecasts about VND/US$ exchange rate in H2 (24/07/2008)

>   Vietnam’s policies may prevent economy from deteriorating: ADB (24/07/2008)

>   WB encourages Vietnam to raise production, reduce deficit (24/07/2008)

>   Huge reduction in State budget spending (24/07/2008)

>   Vietnam's banks cut rates to ease fund shortage (24/07/2008)

>   Gold prices slip, US dollar has slight surge (24/07/2008)

>   Petrol price hike will make CPI grow by 1.5%more (24/07/2008)

>   SBV calms public, dollar responds favourably (24/07/2008)

>   Banks slash interest rates but low-fee capital still inaccessible (23/07/2008)

>   Can increasing interest rates help to curb inflation (23/07/2008)