VNStockNews.com - The Global Insurance Company (GIC) yesterday announced it had sold 10 million shares to the ERGO Insurance Group (ERGO) in a strategic investment agreement.
In total, the transaction is valued at approximately VND380 billion (over US$17million), not including know-how transfer and technical support, giving ERGO a 25 per cent stake in GIC.
This strategic partnership is expected to strengthen GIC's position in the Vietnamese non-life insurance market as ERGO would provide GIC with technical assistance and expertise across its businesses, with a focus on enhancing retail products such as motor vehicle, fire and transport insurance.
