Ceremony to hand over license

The Ministry of Finance on October 8 licensed to establish the Military insurance joint-stock company for non – life insurance.

This is the first company that has been licensed in the year 2007 and after Decree No46 on insurance issued by the government.

Reportedly, along with other founding shareholders, including VP Bank, the military petrochemistry company, construction company No319, Truong Son Construction Corporation, Duc Hoang joint-stock company and Thanh Binh-Hanoi company, the Military Bank (MB) is the very major shareholder in the Military Insurance Company (MIC) with a chartered capital of 300 billion VND.

MIC will hold its first shareholders congress in October and start doing business in September this year.

Source: HNM

Translated by Vu Hung