PVIRe – The internationalized brand

In the exciting atmosphere of the 2013 business plan’s successful completion, PVIRe – the PVI Holdings’ subsidiary has been officially named in Talanx(*) Security List. This notable success can bring many opportunities for PVI Re to access into the international market.

Thanks to this result, PVIRe is prioritized to participate in a huge amount of the important and potential reinsurance projects from the top reinsurers/insurers all over the world.

As the comprehensive and trustful partners, Talanx has also committed to provide the technical support so that PVIRe can enhance the risk assessment and underwrite more effective programs. This movement is considered as a mile stone through the development strategy and market expansion of PVIRe. Thus, PVIRe can take each stable step into the international reinsurance environment.

From now, PVIRe will participate in numerous worldwide reinsurance projects as a direct and equal site. We are proud to become a literal international reinsurer.

Moreover, the two important partners – Hannover Re(**) and Aon Benfield(***), who have recently confirmed PVIRe as their trustful partner, committed to boost the comprehensive cooperation with each other in future. With all above, the premium income from overseas channels is estimated to rise by 30%, remarkably contributing into 2013 business plan.

This fact that PVIRe has been named in Talanx Security List will bring more opportunities for local market to further approach potential projects from Europe and other regions through PVIRe.

After 3 -year operation, PVIRe has obtained significant development with impressive premium income of 1,000 Billion VND and 1,200 Billion VND in 2012 and 2013 respectively. In October 2013, PVIRe was approved to become the joint stock company by MOF with the capital of 668 Billion VND. Along with this, PVIRe’s capital is expected to go up to 825 Billion VND in early 2014 and even 1,100 Billion VND in the following year.

Notes:

– * Talanx is the 3^rd group in Germany and among top 10 of premium income all over the world.

– ** Hannover Re is considered as the 4^th non-life reinsurer in the world by AM Best in 2012.

– *** Aon Benfield is one of the top brokers who has branches in above 50 countries in the world.

Source: PVI Reinsurance in Vietnam