Generali is expanding in Asia

The Italian insurer Generali has announced that its life subsidiary, based in Ho Chi Minh City, will start its operations within six months. The subsidiary called Generali Life Insurance Company is fully owned by the Trieste insurer. Generali estimates that Vietnam is a rapidly growing market. Its growth was of 15% in 2009. The Vietnamese government estimates that the premiums volume could triple by 2012. The Vietnamese economy is the second in terms of growth rate, behind China while insurance accounts for only 0.7% of the GDP. In Asia, Generali is already present in China, Hong Kong, India, Indonesia, Japan, Philippines and Thailand.

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