Pjico Eyeing Premiums of US$47.5Mln in 2005
The Petrolimex Insurance Joint Stock Company (Pjico), the third-largest non-life insurance company in Vietnam, is looking to obtain total insurance premiums of VND750 billion (US$47.5 million) for this year.
Of total amount, Pjico expects to collect more than VND300 billion from both domestic and foreign oil contractors and subcontractors.
As of the end of October 2005, Pjico grossed revenue of VND705 billion (US$44.6 million), an increase of VND100 billion compared with the total figure in 2004.
Le Van Hung, the company director, said: “the provision of insurance services to the foreign oil contractors and subcontractors is a way to export insurance abroad and reap a large amount of foreign currency for the country.”
This is a significant success that Pjico has achieved in 2005, which will also help the firm integrate further into the international market, he said.
Pjico started operation in the insurance sector in 1995, providing non-life insurance services in construction and installation, cargo, shipment, motorized vehicles and human damages.
Vietnam Economic Times
Vietnamese
