The city will fund half the premium, up to 1m yuan (US$150,000) per company each year, and has launched an SME package where 9,800 yuan buys 5.5m yuan of cover.
Heibutzki will succeed Tom Wilson as Thailand country manager, while Allianz Re executive Sanghun Park is set to take over the group's general insurance business.
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.
