Insurers focus their investment

Domestic insurance agencies have focused on core products instead of expanding their services in order to weather the global financial crisis.

For example, the Vietnam Insurance Group (BaoViet) has shifted its focus towards selling car insurance, medical and life insurance and cargo and property insurance. This has allowed the market leader to maintain its number one market share.

Meanwhile, PetroVietnam Insurance (PVI) has concentrated its attention on oil companies to record a large share on the energy, maritime transport, construction and machinery insurance markets.

The Bao Minh Insurance Joint-stock Company, based in Ho Chi Minh City, has made a tough decision on selling its Bao Minh-CMG joint-venture to Japan’s Daiichi insurance company and officially ceased its life insurance to focus on key areas such as air travel, car and fire insurance.

VOV

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