The Ho Chi Minh City-based company will be 91% owned by ACB Asset Management and authorised to write health, motor, property and other short-tail lines.
The transaction, announced on 31 July, remained subject to closing conditions and regulatory and exchange approvals, with completion expected during August.
The insurer will allocate A$500k (US$360k) through its Help Fund to support Australian solutions that help communities prepare for, adapt to and recover from climate impacts.
