Jun 2019

Read the latest edition of AIR and MEIR as an Interactive e-book

Vietnam: Insurer Pjico to sell stake to foreign investors

Source: Asia Insurance Review | Jun 2016

Pjico, one of Vietnam’s five biggest non-life insurance companies, is to sell a 20% stake to foreign investors, expecting to increase its charter capital by 40% to VND1 trillion (US$44.89 million). 
   The company, 51% owned by state-owned fuel trader Petrolimex, would issue more than 17.7 million shares for this purpose by the end of June, according to local news reports. The prospective foreign investors were not named.
   Pjico reported a revenue of more than VND2.23 trillion (US$100 million) last year, up 5.1% from 2014. For 2016, Pjico targets stability instead of fast growth, expecting an increase in revenue of 5% to VND2.34 trillion.
   Vietnam’s non-life insurance market grew by 17.2% last year to over VND32 trillion, figures from the Ministry of Finance showed.
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.


Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.