HCM CITY (VNS)— ACE Life Insurance Co Ltd, part of the ACE Group which is a global leader in insurance and reinsurance, has announced the establishment of its first fund management company in Asia.
A full licence was granted for the ACE Life Fund Management Company (ACE Life FMC) by the State Securities Commission of Viet Nam on Monday.
Finalisation arrived three months after the company received approval in principle for its establishment during the visit of President Truong Tan Sang to the US in July 2013. Headquartered in HCM City, the founding of ACE Life FMC underscores ACE Life's broadening of its investment activities. — VNS