Increasing chartered capital to VND 3,100 billion, PVI Insurance becomes the largest non-life insurer of Vietnam in terms of chartered capital

10:31' SA - Thứ sáu, 26/06/2020

PVI Insurance Corporation (PVI Insurance) was approved by the Ministry of Finance to increase its chartered capital from VND 2,600 billion to VND 3,100 billion under the Official Letter No. 63GPDC18/KDBH dated June 22, 2020. Consequently, PVI Insurance has now become the largest non-life insurer in terms of chartered capital in Vietnam.

The chartered capital increase is a part of PVI Insurance’ strategy to enhance its financial capacity, to create favorable conditions for the expansion of operation network, the investment in facilities, technology, the diversification of products and services to meet the higher expectations of the clients.

The chartered capital increase also confirms PVI Insurance's market leading position, which is the basis for raising the international financial strength rating and helps PVI Insurance to step by step participate more deeply in the international insurance market.

In the first 6 months of 2020, in the midst of Covid-19 pandemic that has put production and business activities in extreme difficult situation and led to a series of declines in the global economy in general and Vietnam's economy in particular, the business results of PVI Insurance still exceeded its plan. In the first half of 2020, PVI Insurance has opened 3 new subsidiaries in Hanoi and Ho Chi Minh City, launched new products and services, signed cooperation agreements with a number of partners such as: Viet Duc Hospital (Hanoi) in providing hospital fee guarantee service, online booking applications namely FastGo, Car+ in providing civil liability insurance and automobile physical damage insurance...