The Global Insurance Company (GIC), which offers non-life insurance, reinsurance and finance investment services, made its debut in Ha Noi on July 26.
The company’s shareholders include Electricity of Viet Nam (EVN), Dong A Bank (EAB), Viet Nam National Reinsurance Cooperation (Vinare), Song Da Urban and Industrial Zone Investment and Development JSC (Sudico) and Viet Nam Air Service Corporation.
To date the company has reached a revenue of nearly 150 billion VND, providing more than 50 insurance products to its clients nationwide.
Speaking at the ceremony, chairman of the board of directors, Ho Nam Thang, said the company’s charter capital is planned to reach 1,000 trillion VND (62.7 million USD) by 2010.
If it’s successful in achieving its target revenue of 300 billion VND (18.7 million USD) this year, GIC would be one of the top five leading insurance companies in the country’s non-life insurance sector.
During the launch ceremony, Electricity of Viet Nam signed a comprehensive cooperative agreement with GIC.
Under the agreement, the two sides will promote joint-venture activities and make capital contributions in order to expand and develop other multilateral businesses activities.
GIC also inked several contracts with partners such as Bao Viet group, Vietnam Air Service Corporation, Power Transmission Company 3 and others.
Source: VNA
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