LVI offers insurance to hydropower plants in Laos
Laos-Vietnam Insurance Joint Venture Company (LVI) and EDL Generation Company last Friday signed an operational insurance contract for seven hydropower plants in Laos with the total liability of $635 million.
Representatives of LVI and EDL Generation Company exchange signed documents for the operational insurance contract for seven hydropower plants in Laos - Photo: Courtesy of BIDV Insurance Co.
Each hydropower plant of EDL Generation Company will be protected in various forms such as asset risks, interrupted business and machine damage during construction and operation.
Pham Duc Hau, general director of LVI, said in a statement released on Monday that this is a big and valuable contract of LVI amid tough competition in the insurance market in Laos.
Over the past five years, LVI, an affiliate of Bank for Investment and Development of Vietnam (BIDV) in Laos, has reached average growth rate of over 60pct annually.
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