RUSSIAN BROKER OPENS OFFICE IN HANOI

Russian insurance broker Malakut has opened a representative office in Vietnamese capital Hanoi, believed to be the first such move by a Russian operation in the south Asian country. Malakut chairman Andrey Dolgopolov said that “the launch of our representative office in Vietnam is an important step in the company’s development as the insurance and reinsurance market of Vietnam is not the biggest, but it is one of the most dynamically developing markets in the world”. Malakut specialises in the reinsurance of various types of risk, particularly shipbuilding and aviation. Malakut director of International Business Yuriy Kharazian said that the broker planned to create a Vietnamese subsidiary and also to expand operations throughout Southeast Asia from its Vietnamese base.