Status upgrade for PJICO corp

An upgrade of status for the Petrolimex Joint-Stock Insurance Corporation (PJICO) was granted last week.

The new corporation status is part of a restructuring programme of PJICO's parent company, Petrolimex, towards 2015.

PJICO, which celebrated its 18th anniversary this week, was established by Petrolimex and other major shareholders, including Vietcombank, Vietnam Reinsurance Corp and Vietnam Steel Corp.

PJICO is the fourth largest non-life insurer in Viet Nam. Last year, company turnover was VND2.2 trillion ($105 million). It is expected to be VND92.5 trillion this year.

Also last week, the company opened its new head office building on HCM City's Nam Ky Khoi Nghia Street.

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