Strengthening Vietnam Business... NH NongHyup Property & Casualty Insurance Partners with Leading Local Insurer
MOU with Vietnam's No.1 Non-Life Insurer PVI
Strengthening Various Collaborations to Promote Overseas Expansion
NH NongHyup Property & Casualty Insurance is teaming up with Vietnam's top non-life insurance company to target the local market.
On the 21st, NH NongHyup P&C announced that it signed a comprehensive business partnership agreement (MOU) with Vietnam's non-life insurer PVI Insurance (hereafter PVI) at its headquarters in Seodaemun-gu, Seoul the previous day.
Duong Thanh Duy Fran?ois, CEO of PVI, and Choi Moon-seop, CEO of NH NongHyup P&C, promised to explore cooperative projects such as expanding reinsurance and utilizing customer networks and services through this business agreement.
PVI holds the number one market share among non-life insurers in Vietnam and was the first in Vietnam to receive an A- rating from the global credit rating agency A.M. Best.
NH NongHyup P&C plans to use this MOU as a stepping stone for overseas market expansion and create new revenue businesses by collaborating with PVI.
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CEO Choi said, "NongHyup is strengthening cooperative projects in Vietnam, which is emerging as the largest market in Southeast Asia. NH NongHyup P&C will support this in the insurance sector and continuously expand mutual cooperation with PVI to pioneer new markets."
Choi Moon-seop, CEO of NH Nonghyup Property & Casualty Insurance (left), and Duong Thanh Dang Fran?ois, CEO of PVI, are taking a commemorative photo after signing a business agreement on the 20th at the NH Nonghyup Property & Casualty Insurance headquarters in Seodaemun-gu, Seoul. (Photo by NH Nonghyup Property & Casualty Insurance)
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