NH P&C Insurance announced on Jun 21 about its new Memorandum of Understanding (MOU) with PVI Insurance, Vietnam’s leading non-life insurance company at its headquarters in Seodaemun-gu District, Seoul on Jun 20.
There were more than 30 representatives of the two companies in the signing ceremony of the MOU including Mr. Duong Thanh Danh Francois – Chairman of PVI Insurance, Mr. Do Tien Thanh – Director of Corporate Risks Division of PVI Insurance, Mr. Vu Van Son – Vice Director of Corporate Risks Division of PVI Insurance, Mr. Choi Mun Seob – CEO of NH P&C Insurance and other representatives of NH P&C Insurance.
Through this MOU, NH P&C Insurance and PVI agree to establish a cooperation to obtain more business opportunities and take advantage of client network and services of both parties. This agreement is designed for a new revenue model through the cooperation with PVI Insurance and is believed to be the first step for NH P&C Insurance to enter the global market.
“NH P&C Insurance is intensifying collaborative efforts in Vietnam, which is emerging as the largest market in Southeast Asia.”, Choi Mun Seob – CEO – NH P&C Insurance said.
In addition, PVI Insurance is the insurer with the highest the non-life insurance market share in Vietnam. PVI Insurance is the first and only enterprise in Vietnam to be upgraded the financial strength rating to A- (Excellent) by A.M. Best.
Source: Sedaily.com