IFC becomes shareholder in Vietnam’s major insurer PVI Holdings
IFC and two investment funds it manages will acquire 6.29% of PVI Holdings from its major strategic shareholder, HDI Global SE.
IFC and two investment funds it manages will acquire 6.29% of PVI Holdings from its major strategic shareholder, HDI Global SE.
Finance banking and insurance are Swiss businesses’ advantages but there are a few that have invested in Vietnam.
Under the deal, Sumitomo Life raised its shareholding at Bao Viet from current 17.48% to 22.09%.
Deputy Prime Minister Vuong Dinh Hue requested FWD to invest in innovation startups in Vietnam, which are considered one of the country’s potential fields for development.
Experts are upbeat about the Vietnamese insurance industry’s health in the coming years, forecasting it would maintain an annual double digit growth rate.