Ceylinco Life senior management visits Bao Viet in Vietnam
27-MAR-2008 Intellasia | Daily Mirror
Mar 27, 2008 - 7:00:00 AM
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A delegation of 22 members of the senior management of Sri Lanka's life insurance leader Ceylinco Life recently visited Vietnam's leading financial services Group Bao Viet which is the parent company of Bao Viet Life Insurance, the largest state run life insurance company in that country.
The visit, intended to bring about a sharing of knowledge between the two companies, also provided an opportunity to explore the potential for business opportunities, the company said.
Ceylinco Life's Chief Executive director R. Renganathan made a presentation to the Bao Viet management on his company's expansion into healthcare services, an important subsidiary business for Ceylinco Life. He focused on the state-of-the-art radiation treatment facilities the company had introduced to Sri Lanka through the Ceylinco Healthcare Centre.
The Bao Viet Group with the international transaction name of Bao Viet Holdings, has a total chartered capital of 5,730 billion dong (about US$358 million), a market capital at average IPO cost of nearly 497 trillion dong (roughly US$254 billion), and total assets of more than 27.3 trillion dong (US$13.95 billion) as at October 15, 2007. The Group's revenue in 2007 was more than 7.8 trillion dong (US$437.5 million).
Established in 1965, Bao Viet has been continuously broadening lines of services such as Life insurance, Non-life insurance, Reinsurance, Financial Investment, Fund Management, Securities Business, Banking and Real estate. The company is one of the biggest 25 enterprises in Vietnam.
Ceylinco Life, which achieved industrywide leadership in life insurance in 2004, achieved a record Rs 6.8 billion in premium income last year, enabling the company to further consolidate its position as the market leader in Sri Lanka. Previous annual overseas visits by senior management have resulted in the company establishing close ties with insurance giants in Korea, Thailand and Malaysia.
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