By Pietro Lombardi 
 

Allianz SE (ALV.XE) is to launch a digital joint venture with Vietnamese technology company FPT Group to enter the general insurance sector in Vietnam, the German insurer said Thursday.

The two companies have signed a memorandum of understanding to form a joint venture to set up a newly incorporated general insurance company in the Southeast Asian country, Allianz said Thursday.

"Allianz is well-placed to support the protection needs of local consumers by delivering innovative digital insurance solutions for a demographic ready to adopt them," Sergio Balbinot of Allianz's management board said.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

January 24, 2019 05:17 ET (10:17 GMT)