VNStockNews.com - PetroVietnam Insurance Joint Stock Corp (coded PVI) reported to gain total revenue of 3 trillion dong up to November 15, fulfilling the company's targeted year plan.
According to Vietnam Insurance Association, up to the end of Q3, the whole country's growth rate in insurance sector was 23 percent while the corporation's of 28.2 percent. PVI was one of the two largest insurance companies in terms of market share for non-life insurance services.
In addition to the leading position in Vietnamese market in chartered capital and asset value, PVI was listed at the top position in the energy insurance sector with market share of 99 percent, asset insurance of 32 percent.
At present, PVI has offered insurance services for large national projects of Phu My Fertiliser, Dung Quat Oil Refinery.
Apart from the fact that PVI has successfully maintained cooperation partnership with other world leading reinsurance providers such as Munich Re and Gard, the corporation has exported its insurance products overseas via providing insurance for large projects of Vietnam National Oil and Gas Group (PetroVietnam) in Algeria and Venezuela and for oil derrick projects in Singapore and shipbuilding projects in Russia.
PVI was carrying out the plan of increasing chartered capital to 1.6 trillion dong. The corporation planned to choose the joint venture of Rothschild & Sons, Horizon Capital Adviser as the consultancy agent.
In 2010, PVI targeted to gain the whole year revenue of 3.8 trillion dong, retaining the growth rate of over 20 percent per year.
Dec 9, 2009
PetroVietnam Insurance Corp reaches total revenue of 3tr dong
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