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PVI and Tiki deploy digitised insurance products

Tiki cooperates with PVI to distribute digital insurance

PVI and Tiki will deploy insurance products suitable to the strengths of the parties. The optimal implementation of customer experience is protected with health, safety and practical financial. The preferred product is the compulsory civil liability insurance of motor vehicle owners. This is humanistic insurance, high protection for the community against unpredictable risks when participating in traffic. Restrictions on communication and operation in the past made participating and claiming benefits for this product not convenient and fast. This limitation leads to a low participation rate even though it is compulsory insurance.

The two units’ digitised Civil Liability Insurance for motorbike owners

This is the first step of a long-term cooperation strategy between PVI and Tiki. With the potential of each side, both want to build a comprehensive insurance ecosystem. Consumers can access tailor-made insurance that meets all life requirements. The basic goal is to profoundly change the perception of users of digital insurance, online distribution. Tiki and PVI will help millions of Tiki customers to protect themselves and their families safely and conveniently. Cooperation with Tiki also helps PVI promote and distribute products to millions of Tiki users. The agreement marks a new development step in PVI’s diversified distribution strategy. Cooperation with multi-industry e-commerce platforms helps PVI to maximize the power of information technology.

Taiwan Mobile invested $20 million in Tiki

With the motto “Customer is the center”, Tiki always prioritizes the interests of customers first. At the end of July, Tiki Global became the parent company of Ti Ki Vietnam. Tiki Global is structured as a holding company of Tiki. Tiki Global owns 90.54% of the shares after the private placement. The offering increased Tiki’s capital from 230 billion VND to 2,430 billion VND. Therefore, Tiki Global’s valuation is $741 million, Ti Ki Vietnam’s is $818 million.

Tiki’s mobile app interface on smartphones

Taiwan Mobile also invested $20 million in the Series E investment round of Ti Ki Vietnam. This is the first time Taiwan Mobile has invested in Vietnam. Accordingly, Taiwan Mobile received 2.7% shares of Tiki Global. With this investment, Tiki is being valued at $740 million. This transaction helps Momo.com penetrate the Vietnamese e-commerce market. Momo.com wants to take advantage of this rapidly growing market, along with Tiki’s warehouse and logistics system. Taiwan Mobile considers Southeast Asia as a target market for 5G development. Taiwan Mobile will continue to look for new partners in the region from e-commerce, logistics, broadband, and 5G related applications.

IFC becomes a major shareholder of PVI

Southern PVI Insurance Company is a member unit of PVI Insurance Corporation. IFC and two investment funds under its management have invested in PVI. These two funds are the Emerging Asia Fund and the Growth Fund Towards Financial Institutions. The two funds are managed by IFC’s subsidiary Asset Management. IFC has purchased 6.29% shares of PVI from major strategic shareholder, HDI Global SE. IFC expects the investment will help PVI strengthen its position in Vietnam and expand operations in Southeast Asia. IFC and HDI Global will also support PVI in corporate governance and risk management.

The facade of PVI headquarter in Hanoi

After selling shares to IFC, HDI Global is still PVI’s largest shareholder with 48.1% voting rights. HDI Global and IFC will hold over 54% of voting rights in PVI. HDI Global’s continuous buying and selling of PVI shares recently caught the attention of investors. HDI Global has just registered to sell more than 14 million PVI shares, equivalent to about 6.2% of share capital. The transaction aims to restructure investment, scheduled from August 6 to September 1, according to the agreed method. Although the results have not been announced, it is likely that this is the number of shares HDI Global sold to IFC.

Sources of information include VietnamBiz and Tiki.