The deal, which is set to be completed in October, covers policy reserves of approx. ¥310bn (US$2.09bn), with Swiss Re retroceding all mortality risk associated with the portfolio
In what it labels as an industry first, the managing general agent has encrypted policies to help prevent the use of policy documents in extortion attempts.
The three-tier insurance scheme uses real-time driving data to reward safer behavior, with coverage expanding from personal accident protection to family benefits.
Hanoi-based non-life insurer said the capital injection will support its ability to underwrite larger and more complex projects and follows similar moves across Vietnam's insurance sector.
