Talanx AG to Raise Stake in PVI HoldingsMay 15, 2012 (Vietnamica) — PVI Holdings (HNX: PVI) plans to sell another 6 percent equity stake to German Talanx AG by the end of May 2012. Talanx subsidiary HDI-Gerling Industrie Versicherung AG will hold the stake. Value of the deal is disclosed (Bloomberg, May 15).
Insurance Australia Acquires Vietnam’s AAA AssuranceApril 17, 2012 (Vietnamica) — The Sydney-based Insurance Australia Group Ltd., (IAG) agreed to buy 30 percent stake in Ho Chi Minh city based AAA Assurance Corp. The deal value is less than US$20.7 million and the acquirer has option to raise its holding to 49 percent. The investment is subject to regulatory approval and is expected to be completed by June 2012 (Bloomberg, Apr 17).
Bank Safety Concerns May Prompt N.A. to Suggest Insurance for Foreign Currency and Gold DepositsNov 12, 2011 (Vietnamica) — Following those early ideas and suggestions about only insuring local-currency deposits at commercial banks, deputies at the Vietnamese National Assembly and economic experts expressed their concerns regarding financial safety of the local banking system, which has for long relied on deposits inflow to conduct lending business.
Vietnam’s Agricultural Insurance Program: Insurers Made Big Profits, Many Farmers Failed to JoinOctober 5, 2011 (Vietnamica) – A conference recently held in Ho Chi Minh city revealed that insurers made big profits on agricultural insurance products. In the 2008-2010 period, their compensation was accounted for less than 30% of premium collection.
Vietnam’s Insurance Industry Performance in H1.2011: UpdateSeptember 18, 2011 (Vietnamica) – Vietnam Business News, Sept. 17, reported that in the first six months of 2011, Vietnamese insurers earned VND17.362 billion (US$842 million) of premiums, up 22 percent year-on-year. Meanwhile, they paid VND 5.892 trillion (US$283 million) of compensations. In light of this, the insurers unveiled revenue growth of 10-15 percent in the first eight months of the year.
August 30, 2011 (Vietnamica) — The 100-percent Japanese owned Dai-ichi Life Insurance Vietnam proved itself in leading position in Vietnam’s life insurance industry. It posted a 65 percent new-policy revenue growth in H1-2011, compared to the same period last year.
