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VINARE reduced its stake in Samsung Vina Joint-Venture Insurance Company

25 - 01 -2021

Samsung Vina Joint-Venture Insurance Company was founded in 2002 with the capital contribution of Vietnam National Reinsurance Corporation (VINARE) and Samsung Fire & Marine Insurance Company (SFMI) of Korea, each holding a 50% stake in the company. 

The charter capital of SVI at the moment is VND 500 billion.

According to the agreement with SFMI, VINARE has transferred 25% out of its total 50% stake in SVI to SFMI.

The share transfer has been approved by the Ministry of Finance on January 17th 2014. Currently the parties are in the process of completing share transfer procedures.

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