VIETNAM APPROVES LIFE INSURANCE LICENCE FOR PREVOIR

French insurer Prevoir has been issued a licence to operate in Vietnam’s life insurance market, announced Vietnam’s Ministry of Finance. Prevoir Vietnam will begin underwriting from the end of this year with capital of $10m. The new venture is backed by three investors, Prevoir Vie, which owns the bulk of the shares at 70%, the investment branch of the French Development Agency and Scor Vie.