PVI Re has successfully completed increasing its charter capital to VND 1,044 billion

PVI Reinsurance Join-stock Corporation (PVI Re – Ticker symbol: PRE) officially announced that the Ministry of Finance has approved of License no. 86/GPDDC4/KDBH dated July 20th, 2023, raising its charter capital to 1,044 billion VND.

This announcement is made on the exact day of the 12th anniversary of the company's establishment, acknowledging a special event in the development journey of PVI Re.

Since July 20th , 2023, the company's shareholder equity has increased by nearly VND 650 billion. This is an important step for PVI Re, aiming to strengthen its financial resources, enhance its domestic and international reinsurance business capabilities, and meet the needs of the market and customers. With the new charter capital, PVI Re consolidates its leading position in the market, which is the foundation for improving international financial ratings and expanding its scale of business activities.

PVI Re is currently working towards renaming to Hanoi Re in order to meet its goal of expanding to the global market, becoming a dynamic and enthusiastic reinsurer in the Asian and global insurance market.

Ending the year of 2022, PVI Re has consolidated its position, becoming a reinsurance company with the highest reinsured premium in the Vietnamese insurance market. Despite the economic difficulties, PVI Re has still achieved success in the first six months of 2023, with total revenue and pre-tax profit exceeding the plan, reaching VND 90.8 billion, equivalent to 106.5% of the plan.