PwC (Vietnam) Limited advised Saigon Hanoi Insurance Corporation (“BSH”) on the divestment of a 75% equity stake to DB Insurance Co., Ltd (“DBI”)

BSH, established in 2008, is one of the Top 10 largest non-life insurance companies in the Vietnamese insurance market, providing a full suite of non-life insurance products, including motor insurance, health insurance, property & marine insurance. BSH stands out as one of the fastest growing entities in Vietnam's non-life insurance market with an impressive average annual growth rate of 39% over the past five years. This remarkable performance has earned BSH the 25th position among the 500 fastest-growing companies in Vietnam as ranked by VNR. BSH currently has 52 member units and 1 subsidiary in Laos, over 60 business departments, and over 1600 personnel nationwide.

DBI is a company within the ecosystem of DB Group, South Korea. Established in 1962, with over 60 years of experience in insurance business, DBI is currently known as the 2nd largest non-life insurance company in South Korea with a global operational network. By the end of 2023, DBI achieved revenue of US$ 13.2 billion, pre-tax profit of US$ 1.2 billion. DBI is rated A+ by AM Best and A by S&P.

The Corporate Finance team from PwC Vietnam acted as the exclusive financial advisor to shareholders of BSH in connection with the transaction.

The transaction received final approval by the Ministry of Finance in December 2023.