ID :
57723
Mon, 04/27/2009 - 18:05
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https://oananews.org//node/57723
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MSIG, Laos forms joint venture
MSIG, Laos forms joint venture
(KPL) The Mitsui Sumitomo Insurance Company Limited (MSIG) on 23 April, at the Lao Plaza Hotel, Vientiane signed a joint venture agreement with the Lao Ministry of Finance to establish a Joint Venture Company to offer a range of general insurance product across business and personal lines in Laos.
The Joint Venture will be known as MSIG Insurance (Lao) Company Limited with an initial paid-up capital of US$2 million. MSIG’ s regional holding company in Asia, will own a 51% equity stake while MOF Lao PDR will own the balance 49%. MSIG Lao is expected to commence operations in 2009 and will be located in Vientiane.
MSIG has a long-term commitment to developing markets in Indochina and contributing activities to its economic growth. Our strong Network in the region, including operations in Thailand, Vietnam and Cambodia, will be bolstered with the addition of MSIG Lao.
The agreement was signed by Minister of Finance Mr. Somdy Douangdy and Chief Executive Officer of MSIG Mr. Atsushi Yagi.
Head of Investment Promotion Department, Ministry of Planning and Investment Mr. Houmpheng Soulalay, Deputy Director of Lao Journalist’s Association Mr. Somsanouk Misay and Director of MSIG Holding (Asia) were at the present.
Mr. Atsushi said, “We are pleased to be selected by the Lao Ministry of Finance as a parthner to provide general insurance solutions in the burgeoning Lao market. This agreement underpins MSIG’s strength and leadership in the general Insurance Industry in Asia.”
MSIG Asia is one of three holding companies for MSIG around the world and has operations in market such as Hong Kong, Indochina, Malaysia, Philipines, Singapore, Thailand and Vietnam.
MSIG it a leading provider of general insurance solution for more than 100 years, MSIG currently operations in over 40 markets in Asia Pacific, United State and Europe, of which 16 are in Asia.
(KPL) The Mitsui Sumitomo Insurance Company Limited (MSIG) on 23 April, at the Lao Plaza Hotel, Vientiane signed a joint venture agreement with the Lao Ministry of Finance to establish a Joint Venture Company to offer a range of general insurance product across business and personal lines in Laos.
The Joint Venture will be known as MSIG Insurance (Lao) Company Limited with an initial paid-up capital of US$2 million. MSIG’ s regional holding company in Asia, will own a 51% equity stake while MOF Lao PDR will own the balance 49%. MSIG Lao is expected to commence operations in 2009 and will be located in Vientiane.
MSIG has a long-term commitment to developing markets in Indochina and contributing activities to its economic growth. Our strong Network in the region, including operations in Thailand, Vietnam and Cambodia, will be bolstered with the addition of MSIG Lao.
The agreement was signed by Minister of Finance Mr. Somdy Douangdy and Chief Executive Officer of MSIG Mr. Atsushi Yagi.
Head of Investment Promotion Department, Ministry of Planning and Investment Mr. Houmpheng Soulalay, Deputy Director of Lao Journalist’s Association Mr. Somsanouk Misay and Director of MSIG Holding (Asia) were at the present.
Mr. Atsushi said, “We are pleased to be selected by the Lao Ministry of Finance as a parthner to provide general insurance solutions in the burgeoning Lao market. This agreement underpins MSIG’s strength and leadership in the general Insurance Industry in Asia.”
MSIG Asia is one of three holding companies for MSIG around the world and has operations in market such as Hong Kong, Indochina, Malaysia, Philipines, Singapore, Thailand and Vietnam.
MSIG it a leading provider of general insurance solution for more than 100 years, MSIG currently operations in over 40 markets in Asia Pacific, United State and Europe, of which 16 are in Asia.
