Bao Viet-led insurance consortium signs $2 bln deal with high-tech firm on healthcare projects

By Minh Hue

Wed, May 14, 2025 | 4:29 pm GMT+7

A consortium of insurers led by Bao Viet Insurance on Tuesday signed a framework agreement to provide comprehensive insurance services to Nhat Hai New Technology JSC (OIC New) for its healthcare projects during 2026-2036.

At the signing ceremony of a framework agreement between the Bao Viet-led insurance consortium and OIC New on May 13, 2025. Photo courtesy of Bao Viet Insurance.

This agreement, worth $2 billion, marks a significant step forward in the strategic collaboration between the parties, aiming to support the sustainable growth of Vietnam’s high-tech and healthcare sectors.

Under the deal, the insurance consortium, including Bao Viet, PVI, BIDV Insurance (BIC), Military Insurance (MIC), Saigon-Hanoi Insurance (BSH), and Tasco, will design and implement customized insurance programs tailored to the operations of OIC New - a pioneering science and technology company specializing in the application of nanotechnology in pharmaceuticals, healthcare, and environmental sectors.

The insurance coverage will span from assets, liability, and personnel insurance to specialized risk coverage related to research, production, and commercialization of nanotechnology and monoclonal antibody products.

Furthermore, the consortium has pledged to accompany OIC New in its cancer treatment projects, including advanced cancer wellness resorts invested or co-invested by the tech firm.

At the signing ceremony, representatives from all parties emphasized the importance of establishing advanced financial protection mechanisms for innovative enterprises.

The partnership between a high-tech company and a consortium of insurers exemplifies the integration of strategic industries, helping enhance national competitiveness in the era of innovation and sustainable growth.

Ha Anh Tuan, director of corporate clients at Bao Viet Insurance, stated: "With six decades of experience in national-scale projects, we recognize the outstanding development potential of nanotechnology, especially when combined with pharmaceutical sciences.

"Providing a comprehensive insurance program for OIC New is part of our strategy to expand our high-quality client portfolio and support innovative businesses in accessing specialized, internationally-aligned risk management tools."

Bao Viet has consistently ranked among the market leaders in revenue and market share.

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