PVI Increases Capital To VND 3.1tril

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The Ministry of Finance has approved PetroVietnam Insurance Corporation (PVI) to increase charter capital from 2.6 trillion dong to 3.1 trillion dong.

Thus, after this capital increase, PVI will be the largest non-life insurance company in charter capital in Vietnam’s market.

PVI’s representative said that this capital increase is in PVI’s development strategy to enhance financial capacity; create favourable conditions for the expansion of operation network; make investment in facilities, technology; and diversify products and services to better meet the increasing needs of customers.

According to PVI, the new level of charter capital confirms the company’s position and is also the basis for raising the level of international financial capacity rating and helps PVI to step by step participate more deeply into the international insurance market.

In the first half of 2020, in the context of difficulties in production and business caused by the Covid-19 pandemic, PVI still exceeded its business plan.

In the first two quarters of the year, PVI opened three new member units in Hanoi and HCM city, launched many new products and services, signed cooperation agreements with partners such as providing products of civil liability insurance and automobile material insurance on online booking applications like FastGo, Car+, etc.

Most recently, in June 2020, PVI signed an agreement on providing hospital fee guarantee with Viet Duc University Hospital. Under the agreement, customers participating in PVI’s health insurance programme will enjoy hospital fee guarantee service when joining inpatient and outpatient medical care at Viet Duc Hospital.

Based on the cooperation agreement between the two parties, PVI’s customers will have more options when seeking leading public health care facilities with highly qualified professors and doctors, while all hospital charges covered by the insurance are directly guaranteed.


Category: Finance, Vietnam

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