Tuesday, September 19, 2017

Bangkok Insurance looks to re-enter Vietnam

After pulling out of Vietnam 10 years ago, Bangkok Insurance (BKI) is now studying a possible re-entry into the neighbouring market.

BKI president Apisit Anantanatarat said they are currently conducting a feasibility study on a possible return, citing Vietnam’s strong economic growth and large population as the main reasons.

BKI entered Vietnam through a joint venture, but due to differences of opinion with its partner, it eventually pulled out.

Today, the business environment in Vietnam is more attractive, with its government trying to lure more foreign investments.

If BKI goes ahead with the plan to re-enter the Vietnamese market, it will have to acquire stakes in local insurers there.

However, such acquisitions would be quite costly and might not prove worthwhile.

The last expansion for the Thailand-based insurer was in Laos, specifically in a company named Bangkok Insurance (Lao), in which BKI holds a 45% stake.

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