Asia Commercial Bank (ACB) is proposing to amend a plan to establish a non-life insurance subsidiary, with the new proposal to be tabled at the bank's upcoming 2026 Annual General Meeting.
Under this latest plan, ACB will not hold directly a 100% stake in ACB Non-Life Insurance Company (ACB Insurance), as had been previously intended, reported Thoibao Taichinh Vietnam (Vietnam Financial Times). Instead, ownership will be shifted to two wholly-owned subsidiaries: ACB Asset Management and Debt Collection Company (ACBA), which will hold 91%, and ACB Securities Company (ACBS), which will hold 9%.
The change is intended to enhance the role of group entities while helping to improve the bank’s capital adequacy ratio.
ACB Insurance, with an initial charter capital of VND500bn ($19m), is expected to serve as a growth driver rather than be just an additional unit. The business plan is for ACB Insurance to capture 1.5% of the non-life insurance market within five years, leveraging the bank’s existing customer base.
The proposal to establish the non-life company was approved by shareholders in November 2025.