Nipponkoa Insurance Co. has struck tieup deals with Moscow's Ingosstrakh Insurance Co. and Hanoi-based Vietnam Insurance Co., known as Baoviet, with a view to better serving its corporate customers operating in those two countries, the nonlife insurer said Monday.
The company has decided to enlist the help of the two firms, both major players in their home countries, in selling policies and offering various support services now that more of its corporate policyholders are setting up operations there.
Under their contracts, the partners aim to further strengthen their business ties and exchange information on the conditions of each country's economy, insurance market and regulatory matters.
Russia is drawing global attention because its economic promise ranks alongside those of other emerging economies such as Brazil, India and China, the countries often bunched together under the acronym BRICs.
Nipponkoa says it intends to further expand its operations in the so-called BRICs and other overseas markets.