AIA increases capital in Vietnam

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American International Assurance, or AIA, has decided to increase its chartered capital in Vietnam to VND1,035 billion from VND970 billion, the fifth increase in ten years of operations here.

The move is part of the insurer's strategy to strengthen its business in Vietnam after the American International Group's unit was acquired by its rival, UK-based Prudential, in early March.

As of last year, AIA served the holders of 516,700 policies in Vietnam that accounted for a total premium income of VND34.44 billion, or $1.8 million.

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