<article>Expanding its footprint in Asia, insurer and asset manager group <a href="https://www.dealstreetasia.com/tag/Allianz/">Allianz</a> has set up a digital joint venture with Vietnam’s technology giant <a href="https://www.dealstreetasia.com/tag/FPT-Corporation/">FPT Corporation</a> to enter the general insurance sector in the country.</article>

Expanding its footprint in Asia, insurer and asset manager group <a href="https://www.dealstreetasia.com/tag/Allianz/">Allianz</a> has set up a digital joint venture with Vietnam’s technology giant <a href="https://www.dealstreetasia.com/tag/FPT-Corporation/">FPT Corporation</a> to enter the general insurance sector in the country.
FPT Corporation will support Allianz in developing digital insurance products and services for the Vietnamese market, according to a press release.
The technology group will also provide access to its distribution channels and affiliates and assist Allianz with local market knowledge.
“We are delighted to embark on the next stage of our partnership with FPT Group at an exciting time for the development of the Vietnamese economy. Allianz is well-placed to support the protection needs of local consumers by delivering innovative digital insurance solutions for a demographic ready to adopt them,” said Sergio Balbinot, Member of Board Management, Allianz SE.
Vietnam is one of the fastest growing economies in Asia, with a general insurance market which is expected to experience robust growth. Combined with Vietnam’s high internet and mobile penetration, the country is well placed for increased access to digital insurance solutions.
“We look forward to contributing to the continued development of Vietnam’s fast-growing insurance sector, boosting financial inclusion for the under-protected, and reaching an expanding pool of digitally-minded consumers,” said George Sartorel, Regional Chief Executive, Allianz Asia Pacific.
Allianz Group is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets.
The group, via its digital investment unit Allianz X, has invested $35 million into Indonesian ride-hailing major Go-Jek’s $1.5-billion funding round raised last year.
FPT Corporation provides IT and telecommunication products and services in Vietnam and internationally. The company operates through information technology and telecommunication, and investment and education segments.
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Insurer and asset manager group Allianz has set up a digital JV with Vietnam’s technology giant FPT to enter the general insurance sector in the country.

Allianz partners FPT Corp to foray into Vietnam's general insurance sector

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Allianz partners FPT Corp to foray into Vietnam's general insurance sector

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