Petrolimex Joint Stock Insurance Corporation (PJICO), one of the top five non-life insurance companies in Viet Nam, signed a co-operation agreement on Thursday with the Republic of Korea’s Woori Bank to boost insurance packages.

Under the agreement, the two sides will jointly build added benefits to meet the increasing demand of customers for package insurance plans. PJICO insurance products – including motor vehicle insurance, health insurance, and property insurance – will be delivered through Woori Bank’s network system.

Woori Bank is a leading Asian bank and the oldest of its kind in the Republic of Korea at 119 years old. It has 410 branches in 25 nations. PJICO is a member of the Viet Nam National Petroleum Group (Petrolimex) with 23 years of operation and development.

In the first nine months of 2018, PJICO achieved positive business results with a total revenue of nearly VND2.3 billion (US$98 million), an increase of 11 per cent over the same period last year. The company’s profit reached nearly VND131 billion, a year-on-year increase of 8.2 per cent, completing 76.3 per cent of its target for the year. — VNS