On July 11, 2023, PVI Insurance Corporation (PVI Insurance) signed a Memorandum of Understanding (MOU) with NongHyup Property and Casualty Insurance Co., Ltd. (NH P&C Insurance) (Korea) at PVI Insurance’s headquarters in Ha Noi.

Attending the signing ceremony is the presence of Mr. Bui Thanh Hai - Department of the Insurance Supervisory Authority - Ministry of Finance, Mr. Nguyen Xuan Hoa - CEO of PVI Holdings, Mr. Duong Thanh Francois - Chairman of PVI Insurance, Mr. Pham Anh Duc – CEO of PVI Insurance, Mr. Trinh Anh Tuan – CEO of PVI Reinsurance Joint Stock Corporation, Ms. Trinh Quynh Giao – CEO of PVI Asset Management JSC; Mr. Choi Mun Seob – President & CEO of NH P&C Insurance, Mr. Choong Kwan Cho -  COO of UIB Korea and representatives of the Boards of Management of two Companies. 

At the signing ceremony, Mr. Duong Thanh Francois said: “Vietnam and South Korea have upgraded their relations to “Comprehensive Strategic Partnership”. The Vietnam - Korea Free Trade Agreement has strongly promoted trade and investment activities between two countries. PVI Insurance wishes to closely cooperate with NH P&C Insurance in all potential fields, especially agricultural insurance and reinsurance. I believe that the cooperation program between PVI Insurance and NH P&C Insurance shall be a solid basis for two parties to take advantage of competitive advantages to bring mutual benefits and create high-value results, promote a good relationship between two Companies.”

On the side of NH P&C Insurance, Mr. Choi Mun Seob shared: “With Nonghyup Financial Group Inc., NongHyup Bank, NH Investment & Securities Co., Ltd., and others Korean enterprises already operating in Vietnam; by signing cooperation agreement with PVI Insurance, we look forward to entering the Vietnamese market." 

PVI Insurance and NH P&C Insurance signed a 5-year Memorandum of Understanding. Two parties have committed to establishing a cooperative relationship to have better business opportunities, expand the reinsurance field, and take advantage of the customer and service network to develop the strengths of services and products.

Previously on June 20, 2023, PVI Insurance and NH P&C Insurance also signed a Memorandum of Understanding at NH P&C Insurance Headquarter in Seodaemun-gu district, Seoul, Korea. 

* PVI Insurance is the No. 1 Non-life Insurer in Vietnamese Insurance Market, being ranked the first in terms of both revenue and profit, the first and only enterprise in Vietnam with a financial credit rating A- (excellent) by A.M. Best. In addition, PVI Insurance is also a non-life insurance enterprise with 2 consecutive years to be voted for Top-50 Outstanding Profit Enterprises in Vietnam (2021-2022).
With a comprehensive business network, diversified exploitation channels, PVI Insurance’s goal is to provide the best-quality services to customers. Over the years, PVI Insurance has received the trust, support, and is always the first choice of customers and partners, especially in providing insurance for large foreign-invested projects in Vietnam.

* NH P&C Insurance is a member of Nonghyup Financial Group Inc., which is 100% owned by the South Korean National Agricultural Cooperative Federation. NH P&C Insurance has been rated A- by A.M Best for financial credit rating since 2015 and continues to maintain this rating with a stable outlook so far. In particular, NH P&C Insurance is a professional and exclusive insurance enterprise in the field of agricultural insurance in Korea.
In 2022, NH P&C Insurance 's total assets reached 13 trillion won, premium revenue reached 4 trillion won and net profit by 1,147 billion won – which is the company’s best performance ever.