Company helps increase Vietnam’s commercial presence in Laos

06/16/2023 14:07

Starting with a total capital of 3 million USD and 12 people, after only 15 years, Laos – Vietnam Insurance (LVI) joint venture company has become one of the most successful insurance companies in Laos, ranking second in terms of market share, and becoming one of the most favourite insurance companies in this country.

On June 15 evening, this company, an affiliation of the Bank for Investment and Development of Vietnam (BIDV), held a ceremony to celebrate 15 years of its operation in Laos.

LVI was officially put into operation in the Lao market on June 21, 2008, on the basis of a joint venture contract between BIDV, BIDV Insurance Corporation (BIC), LaoViet Bank, and Banque Pour Le Commerce Exterieur Lao Public (BCEL-Lao Public Bank for Foreign Trade). Since 2013, after BIDV and LaoVietBank transferred their stake to BIC and BCEL, the company has only two shareholders: BIC (65%) and BCEL (35%).

After 15 years, the LVI has to date had three branches, 14 sales divisions, 90 employees, and more than 100 agents, serving more than 70,000 customers nationwide.

The company has always been a pioneer in digital transformation, and the application of information technology in management and business activities. In recent years, it has also actively participated in the social welfare work in Laos./.

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