Korea Life insurer invests in China

Korea Life Vietnam Insurance Co has announced that after investing and officially starting operation in Vietnam market, the next destination of Korea Life Insurance will be China.

In last December, Korea Life Insurance had signed a cooperation agreement with China-based Zhejiang partner to invest 45 billion Korean won (nearly $40 million) in establishing a joint venture.

Joining Vietnam’s life insurance market since last April, Korea Life Insurance has become Korea’ first insurer establishing subsidiary in foreign country.

In Vietnam, the insurer has 2,000 financial consultants. During the first operation year, the company earned $2 million from insurance premium.

Tags: Korea Life insurer, Vietnam insurance, Vietnam insurance industry, Vietnam insurance markets, Vietnam life insurers

Posted by VBN on Mar 12 2010. Filed under Insurance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry