Bao Viet Life Insurance Corporation will open five new affiliated companies this month, raising its total number of subsidiaries to 75 in 63 cities and provinces nationwide.

The five companies will be located in Ha Noi, Quang Ninh and Binh Dinh.

Bao Viet General Director Pham Ngoc Son said besides enhancing product quality, human resource training, technology and management, Bao Viet has also considered the expansion of its network, which is one of its key development strategies.

Bao Viet Life Corporation has, so far, provided financial plans and protection to more than five million customers with nearly 50 products. The corporation paid nearly US$1.5 billion in benefits to customers.

According to the Ministry of Finance’s Insurance Supervisory and Management Department, Bao Viet topped the country’s life insurance market share in the first quarter of this year, accounting for 28.7 per cent of the country’s total premium income. — VNS