Lanexang Assurance Public Company (LAP) was established on 11/10/2010, based on cooperation between and capital contributions by the Lao People’s Democratic Republic, represented by Lao Development Bank (LDB), and the Socialist Republic of Vietnam, represented by Vietnam’s Post and Telecommunication Insurance Joint Stock Corporation (PTI). We are fortunate to inherit the insurance experiences of PTI - one of three leading insurance companies in Vietnam - as well as the strong support from LDB, the largest, nationwide bank in Laos. This establishes a firm foundation for our development.
Over the past five years, we have continuously developed our activities and created a distinct position in the insurance market in Laos. According to statistics from the Lao Insurance Association, LAP is currently ranked 4th in the market by net premium and is one of the insurance companies maintaining the highest average growth rate in the market (40% to 50% on average).
Scope of Business
To best meet all the needs and requirements of its customers, LAP has built and developed more than 100 products focusing on the following areas:
- Motor vehicle Insurance
- Property all risk insurance
- Fire and Special Perils Insurance
- Contractor's All Risks Insurance
- Contracts' Plant and Machinery Insurance
- Machinery Breakdown Insurance
- Civil Engineering Completed Risk Insurance
- Business Interruption Insurance
- Public Liability Insurance
- Money Insurance
- Inland Transit Insurance
- Personal Accident insurance
- Health care insurance
- Workman's compensation insurance
- Pupils insurance
- Other insurance.
Re-insurance and ceded re-insurance in all types of non-life insurance.
Investment stocks and bonds, direct investment, investment consulting, and other services related to financial investment.
Perform other activities permitted by law, including loss inspection, risk assessment consulting, real estate and loans.