The agreement, signed by the two companies is part of PVI Insurance’s strategy to provide diverse, flexible and appropriate healthcare programs for multinational corporations as mandated by Government of Vietnam.
Under the agreement, PVI Insurance will be a partner of Zurich Global Employee Benefits Solutions network (ZGEBS) which is built on Zurich long-standing presence in pooling, captive and cross-border solutions as well as market-leading expertise in designing successful international programs for general insurance. The ZGEBS network includes over 100 local insurance carriers with specialist capabilities in more than 130 markets. The network currently covers more than a million employees of over 125 multinational customers.
After the tie – up, PVI Insurance will be providing group life, accident, disability and medical coverage to ZGEBS’s multinational customers in Vietnam.
By participating ZGEBS network, PVI Insurance’s healthcare products for clients in Vietnam will be improved, ensuring long – term stability of insurance program and coverage by taking advantage not only PVI Insurance’s capacity but also the capacity of the region and the world.
“We are delighted to be part of ZGEBS network and to be able to provide our market leading employee benefits solutions to our mutual customers in Vietnam”, Thanh Danh Francois Duong, Chairman of the Board of Members of PVI Insurance, said.
Rob Brown, Head of Network Partner Management at ZGEBS, said: “We’re proud to have such a strong partner in Vietnam able to provide exceptional employee benefits coverage to our multinational clients in this fast-growing, important market. ZGEBS network partners are all high-performing companies in their local markets and it’s wonderful to be further expanding our global network with an experienced market leader like PVI Insurance.”
Being a partner of ZGEBS, the aim of PVI Insurance is to ensure the stability of its insurance programmes, through better insurance coverage for clients, improving service quality for corporate clients, optimising cost control in the context of medical costs increasing quickly in Vietnam lately, and elevating services towards international standards.
Established in 1996, PVI Insurance Corporation was developed from an internal insurance company of the Vietnam Oil and Gas Corporation (now known as PetroVietnam, PVN).
PVI Insurance has become the top industrial insurer in Viet Nam and a leading insurance partner of companies operating in key sectors like energy, marine and property – engineering. The company has also been an important partner of large corporations both at home and abroad. As at 1st Quarter 2021, PVI Insurance has achieved the 1st position in the local market in terms of both revenue and profit.
Additional information:
Experiencing 25 years, the PVI brand has grown strongly and been recognised by prestigious domestic and foreign organisations. It has a network of affiliated companies and full utility services.
PVI Insurance currently owns the largest chartered capital in Vietnamese non-life insurance field and its financial capacity has been rated by AM Best at B++ (Good) for years.
HDI Global SE is leading insurance company in Germany and Europe and now is the biggest shareholder of PVI. HDI Global plans to develop direct insurance in Southeast Asia through PVI. With the backing of HDI Global, PVI Insurance's vision is to build one of the leading insurance companies in the Southeast Asia in near future.
Zurich Global Employee Benefits Solutions (ZGEBS) provides global solutions for multinational companies. From multinational pooling and captive services to innovative global underwriting programs, ZGEBS offers multinational companies a holistic approach to risk management and financing solutions, maximizing the value of their global employee benefit plans.
ZGEBS has a global network of market-leading insurance companies offering products and services in over 130 locations. ZGEBS work with Zurich-owned companies and top-quality local insurers in countries where Zurich does not have a local presence. Regardless of ownership, all partners in the network share a common purpose: to offer competitive, high-quality products and services.
