GIC co-insures 3 billion USD for the first electric car factory project in Viet Nam
5/22/2024
On May 10, 2024, Global Insurance Corporation (GIC) executed an insurance contract for all property risks and finished technical civil works insurance for the Manufacturing Factory Complex. VinFast is part of the VinGroup, which manufactures vehicles, motorcycles, and electric buses.
The VinFast car, motorcycle, and electric bus production complex is located on 335 hectares of land in Dinh Vu industrial park, Cat Hai district, Hai Phong City, and has a capacity of 250,000 automobiles per year (state 1). The level of automation here is extremely high, with 1,200 robots, a 98% automatic body factory, and a 90% automatic engine workshop.
With the largest scale in Southeast Asia and a total value of up to 3 billion USD, VinGroup has chosen recognized non-life insurers to insure factories, equipment, machinery, and items at the Complex. GIC, in particular, is a member of the co-insurance consortium that covers this service package.
At the VinFast factory insurance contract signing ceremony, Mr. Hoang Quoc Cuong - Director of Business Development & Marketing, was shown on the far left
After 18 years of founding and growth, GIC is honored to have served more than 2.5 million individual and corporate clients in 60 Vietnamese provinces and cities as a reliable insurer.
Global Insurance Corporation
