HSBC and Bao Viet sign insurance contract for shipments
26-JUL-2008 Intellasia | 24/Jul/2008 Vietstock
Jul 26, 2008 - 7:00:00 AM
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Hong Kong & Shanghai Banking Corp (HSBC) on July 24 made a deal with Bao Viet Insurance Corp to jointly provide insurance services for shipments, marking one of the first foreign banks distributing the shipment insurance service to Vietnamese enterprises.
The shipment insurance contract aims to ensure commodities before unexpected losses when forwarding by sea, air or road. With this product, enterprises would feel secure and their businesses would not be interrupted event when being lost or damaged.
HSBC is now the biggest foreign bank in Vietnam on investment capital, network, products and the number of staff and customers, while Bao Viet is the Vietnam's leading insurance and finance group.
Earlier, HSBC successfully distributed the insurance product for individual risk and car and asset insurance product of Bao Viet together with HSBC's car and home loans.
According to Tran Trong Phuc, Bao Viet's general director, the cooperation with HSBC to jointly launch shipment insurance service is a part of the insurance and bank project between Bao Viet and HSBC.
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