The Ministry of Finance has authorized a further increase in PVI Insurance’s charter capital, boosting it from VNĐ3.5 trillion to VNĐ3.9 trillion (approximately US$153.5 million). This recent approval represents the second capital raise for the company within the past five months.
Earlier this year, on March 29, 2024, PVI Insurance had already expanded its charter capital from VNĐ3.3 trillion to VNĐ3.5 trillion. This latest increase reinforces PVI Insurance’s prominent position within Vietnam’s non-life insurance sector, marking a significant enhancement in its capital base, revenue, and market share.
The ongoing expansion of capital underpins PVI Insurance’s efforts to solidify its reputation and financial robustness, while also enhancing its competitive stance in both the local and international insurance markets.
In the first half of 2024, PVI Insurance has made notable strides. It retained its A- (Excellent) international financial strength rating from AM Best, was ranked among the Top 10 Most Reputable Non-Life Insurance Companies in Vietnam by Vietnam Report, and earned the title of Best Non-Life Insurance Company in Vietnam from Asia Insurance Review.
