The power companies participate in dealing in insurance.

30/07/2007 00:00:00 - views: 1,234

Vietnam Electricity (EVN) with the grand enterprises in Vietnam such as: Song Da Corperation, invest capital to installation Global Insurance Company (GIC) to deal in insurance. The company launched on July 26th, 2007 in Hanoi and had the permission from June, 2006 with VND 370 billion. GIC has the support of the grand enterprises and the market, GIC had a large amount of customers rapidly such as the units, project of the enterprises. Projected turnover is VND 300 billion.

                         

Financial Minister Vu Van Ninh, insurance is the field that has the developed potentiality as well as competitive branches as result of  the highly opening. The grand domestic enterprises in the country take part in contribution  money to insurance, that make the insurance market be more competitive with the other domestic insurance enterprises. 

GIC provides rather sufficient for the insurance with 50 different products. GIC is the first domestic insurance enterprise which provides the insurance for the employees of the oceangoing vessel. Vinalines is the first enterprises which has the package airline insurance to provide the flight companies and the domestic airlines.GIC contracted with South Flight Service Company for the fuselage insurance during 2007 – 2008 with USD 100 million. 

EVN is not only the investor but also the partner of GIC when reaching the business cooperation agreement such as joint venture, contribution capital to investment and business development assistance. EVN will contribute money with GIC to installation Financial Power Company, immovables company and Joint Stock Company..

 
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