PVI headquarters in Hà Nội. The Ministry of Finance approved PVI Insurance's second capital increase in five months, raising it from VNĐ3.5 trillion to VNĐ3.9 trillion (US$153.5 million). — Photo courtesy of PVI Insurance

HÀ NỘI — The Ministry of Finance has recently approved an increase in PVI Insurance's charter capital from VNĐ3.5 trillion to VNĐ3.9 trillion (US$153.5 million). This marks the second capital increase within just five months.

Previously, on March 29, 2024, PVI Insurance received a business licence to raise its charter capital from VNĐ3.3 trillion to VNĐ3.5 trillion. This move further solidifies PVI Insurance's leading position in the non-life insurance market in terms of capital, revenue and market share.

The continuous success in raising charter capital provides a crucial foundation for PVI Insurance to affirm and enhance its reputation and standing in financial strength, while also boosting its competitive edge in both domestic and international markets.

In the first half of 2024, PVI Insurance achieved several significant milestones. It retained its international financial strength rating of A- (Excellent) from AM Best, topped the list of the Top 10 Most Reputable Non-Life Insurance Companies in Việt Nam (as recognised by Vietnam Report) and was named the Best Non-Life Insurance Company in Việt Nam by Asia Insurance Review. — VNS