The American insurer Metlife has joined Bank for Investment and Development of Vietnam (BIDV) and its subsidiary Bank for Investment and Development of Vietnam Insurance Corporation (BIC) to set up a life insurance company. The new insurer will be endowed with a capital of 48 million USD, 60% of which will be detained by MetLife. BIDV and BIC’s shares are respectively of 35% and 5%. Since the takeover of Alico from AIG in 2010 for 16.2 billion USD, the American insurer is present in 10 Asian countries.