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News round-up - Ace gets Vietnam green light.
(From Reinsurance)
Ace has announced that it has been told by Vietnam's Ministry of Finance that its application to establish a wholly-owned life insurance company in Vietnam has been approved and expects to have a licence by mid-year.
Ace will immediately proceed toward the establishment of its operation in Vietnam.
"I am pleased that Ace has been approved to conduct a life-insurance business in Vietnam," said Evan Greenberg, president and chief executive of Ace. "Vietnam is a country with a bright and prosperous future, given the size of its population and industrious nature of its people. ...
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