Time to export insurance services abroad
PV Insurance has become the first insurer in Vietnam to provide international-standard insurance services to foreign oil and gas projects, which should be seen as a kind of ‘insurance export’.
Many high value insurance services have been exported, bringing large amounts of foreign capital into the country.
Recently, PV Insurance wrapped up negotiations on insurance services for FPSO Cuu Long MV9 vessel by Japanese contractor Modec/Mitsui with total insured liability sum of up to $200mil.
According to Director General Le Van Hung, PV Insurance is the biggest foreign currency earner from insurance services export. 2005 was a successful year for them, with total turnover of VND2,680bil, growing 600% over the same period last year.
(Source: TBKTVN)
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