AIA Vietnam ensures customer interests

On March 3, a representative of AIA Vietnam Life Insurance Co Ltd said in a reply to Dau Tu newspaper that all operations of AIA Vietnam are normal. All interests of customers with AIA Vietnam will be unchanged.

All staffs of AIA Vietnam are answering the merger information of AIA Group. After American International Group Inc (AIG) officially publicised that it would transfer AIA Group to Prudential PLC for $35.5 billion, AIA Vietnam also confirmed the information.

The transference deal gained the agreement of AIG and Prudential and is expected to be completed by 2010 end depending on the approval of Prudential’s shareholders and international trading norms.

Thus, entire AIA Group including 15 facilities in Asia Pacific countries with over 320,000 agents and 23,500 staffs, 23 million customers and more than 10 million members who join group life insurance products, health insurance, credit associated life insurance and retirement insurance will be taken over by Prudential.

The AIA Group is a leading pan-Asian life insurance organisation that traces its roots in the Asia Pacific region back more than 90 years. It provides consumers and businesses with products and services for life insurance, retirement planning, accident and health insurance as well as wealth management solutions. Through an extensive network of 320,000 agents and 23,500 employees across 15 geographical markets, the AIA Group serves over 23 million customers in the region.

Earlier, Prudential Group reported reaching an agreement with AIG Group on requirements as merging AIA life insurance firm (under AIG) into Prudential.

An official of Prudential said that the merger deal will create the combination between two leading insurance firms and the new position for Prudential to catch development opportunities in Asia in future. After being transferred, AIA life insurance may be changed name to New Prudential headquartered in UK and traded on the London stock exchange. Particularly ADR (American Depository Receipt) stock will be traded at New York stock bourse. Prudential will list both above stocks on Hong Kong Stock Exchange after the deal finishes. Current director board of Prudential will chair New Prudential.

Tags: AIA Vietnam, Vietnam insurance, Vietnam insurance market, Vietnam insurance sector