PRUDENTIAL VIETNAM GETS FINANCIAL UNIT GO-AHEAD

VIETNAMESE authorities have given their approval to life insurer Prudential Vietnam to open a branch of its financial unit in Hanoi. Prudential Vietnam boasts a 41% share of total insurance premium income in the country making it Vietnam’s largest life insurer. Prudential Vietnam Financial, which was established last year provides loans, investment and financial services to institution and individual customers. According to the State Bank of Vietnam, which was responsible for granting the go-ahead, the new Hanoi branch will conduct online transactions with the head office and set up internal control systems in accordance with local regulation.