Astreos Vietnam - Interview with Au Quang Hien, CEO of AEGIS Vietnam
(January 24, 2015)
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Hien, can you introduce AEGIS to our readers?
Au Quang Hien: AEGIS was one the first insurance intermediary to operate in Vietnam. AEGIS, since our humble beginnings in 2002, became, then and now, the only independent firm to challenge the global insurance brokers in the country. We have a highly committed team that strictly focuses on risk advisory, with a personal touch, to our Clients prior to any programs are designed and placed. We are also proud to possess one the most professionally qualified team that is divided into specialist units and through them we strive to be the premier service provider in Vietnam, Myanmar, Cambodia and Laos. How can Credit Insurance help Vietnamese enterprises? Au Quang Hien: Unlike many countries, Vietnam does not have an “export credit agency” that helps businesses when faced with overseas bad debts or in some case even political risk issues. Due to this, we have made Credit Insurance one of our key strategic products to both achieve differentiation, whilst at the same time help our Clients to grow and protect them in case of protracted or non-payment. Non-payment continues to be faced by many Vietnamese exporters as the country's export revenues continue to surge ahead, in particular as competition grows and new market's are sourced. |
Who are the key players in the Vietnam credit insurance market?
Au Quang Hien: Credit insurance in Vietnam is technically offered by five key underwriters, AIG, QBE as well Atradius, Coface, Euler Hermes with the latter three via appointed local partners since Vietnam has local admitted policy regulations in place.
Whilst not directly involved, we believe the credit insurance market in Vietnam would flourish more should banks and financial institutions finally start reviewing their positions in allowing credit insurance policies to be fully acceptable and secure collateral.
What are your future plans?
Au Quang Hien: From a general insurance point of view, we aim to continue to be the innovative company that brings to our marketplace ideas and products to help the market as well as our valued suppliers. For example AEGIS was first to introduced the following:-
Many thanks to Au Quang Hien and Nguyen Phuong Kieu, for their help on this special report about Vietnam!
Au Quang Hien: Credit insurance in Vietnam is technically offered by five key underwriters, AIG, QBE as well Atradius, Coface, Euler Hermes with the latter three via appointed local partners since Vietnam has local admitted policy regulations in place.
Whilst not directly involved, we believe the credit insurance market in Vietnam would flourish more should banks and financial institutions finally start reviewing their positions in allowing credit insurance policies to be fully acceptable and secure collateral.
What are your future plans?
Au Quang Hien: From a general insurance point of view, we aim to continue to be the innovative company that brings to our marketplace ideas and products to help the market as well as our valued suppliers. For example AEGIS was first to introduced the following:-
- Principal Controlled Construction All Risks Insurance
- D&O/Management Liability
- Various Insurance Bonds
- Livestock & Aquaculture Insurance
Many thanks to Au Quang Hien and Nguyen Phuong Kieu, for their help on this special report about Vietnam!