Procap Insurance innovative business model is the first of its kind in the insurance industry

LONDON, April 29, 2023 (GLOBE NEWSWIRE) — ProCap Insurance is taking the insurance industry by storm. The ProCap Insurance Manila office will officially open in the month of May. Prior to this, ProCap Insurance had signed partnership agreements with partners in various different countries. Subsequently, ProCap Insurance will set up official agency offices in these respective countries.

All the regional partners strongly agreed that ProCap has a great business model and an experienced management team that is uniquely positioned to capitalise on the evolving insurance environment. As the industry transits through consolidation and technological disruptions, ProCap’s avant-garde operating model is well-positioned to provide the most competitive and cost-effective products. The amalgamation of ProCap, Policyholders, and Gaming Operators seamlessly is an industry first. The company has tremendous growth potential to be an industry leader with this revolutionary business model.

They further emphasised that both the insurance and gaming industry have 4 critical success factor in common. There are 1. Longevity 2. Sustainability 3. Law of large numbers 4. Recession Proof

  1. Longevity – Both industries have been in existence for more than three hundred years. They have subsequently adopted and evolved with times and embraced technology to keep them competitive and stay relevant. In fact, both industries are leaders in the adoption of cutting edge technologies to enhance the competitive advantages and maintain their relevancy in a fast moving world.
  2. Sustainability – Despite two world wars and numerous pandemic, they are still around to serve their clients faithfully without disruption.
  3. Law of large numbers – Both industries thrive on large numbers or big data. By having large numbers, they are able to better manage risks pooling and risks sharing more efficiently and effectively. This ensures that the interests of the policy holders are well covered and protected.
  4. Recession Proof – Contrary to popular belief, the recent pandemic had no negative impact on their revenues. In fact, both industries have registered double digits growth.

The partners are confident that ProCap Insurance has tremendous growth potential to be an industry leader with this revolutionary business model.

About ProCap Insurance

ProCap Insurance is a leading provider of capital insurance which insures the underlying fixed and current capital assets of enterprises and/or individuals. The company also offers consulting and pay-out analysis services for capital asset insurance to empower individuals and/or businesses to achieve better financial planning and financial freedom.

Media Relationships Manager

Steve Hughes

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GlobeNewswire Distribution ID 8828626

Vietnam sees improvements in FDI attraction: investor

Vietnam’s foreign direct investment (FDI) attraction policy has been improved significantly as foreign investors are now allowed to pour capital into almost areas, a businessperson has said.

Ann Huynh, Chairwoman of 3SI Inc investment company based in Virginia, the US, told the Vietnam News Agency (VNA) that Vietnam’s infrastructure has been upgraded and administrative procedures have been streamlined.

North American investors are interested in emerging markets, especially Vietnam, in such areas as high-tech and electric vehicle manufacturing, she said, noting that they want to learn about the country’s incentives, orientations and infrastructure.

Regarding cooperation between Vietnam and the US, Huynh said it has been expanded and growing fruitfully, from economy, investment and trade to national defence and security, agriculture, tourism, education and war consequence settlement.

She, however, pointed to obstacles to foreign investors regarding policies and investment licensing, noting her hope that administrative procedures will be further reformed to facilitate operations of foreign enterprises.

So far this year, FDI channeled into Vietnam neared 8.9 billion USD, with new capital surging after a slight decrease in the first three months.

According to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA), there were 750 new projects granted investment licences worth over 4.1 billion USD, up 65.2% and 11.1% annually, respectively.

A total of 386 projects had their capital added for a total of 1.66 billion USD, a 19.5% increase in quantity and reduction of 68.6% in value against the same period last year. The growth, despite the associated decrease, reflected investors’ confidence in Vietnam’s business climate and decisions to expand their existing projects.

Also in the four months, foreign investors did 1,044 transactions of capital contribution and share purchases, with their contributed capital exceeding 3.1 billion USD, up 70.4% year-on-year. They invested in 18 economic sectors, mostly in processing and manufacturing with over 5.1 billion USD or 57.8% of their total investment.

The number of countries and territories investing in Vietnam in the period amounted to 77. Singapore took the lead by pouring close to 2.2 billion USD into the market, followed by Japan with nearly 2 billion USD and China with 752 million USD./.

Source: Vietnam News Agency

Vietnam greets 3.7 million foreign tourists in four months

Nearly 3.7 million foreign tourists travelled to Vietnam in the first four months of 2023, according to Vietnam National Administration of Tourism (VNAT).

The number of domestic tourists during the period was estimated at 38 million.

Total revenue from tourists was estimated at 196.6 trillion VND (8.3 billion USD).

Of the total visitors, up to 88.7% travelled by air, 10.1% by road, and 1.2% by sea.

In April alone, Vietnam welcomed 984,000 international travellers, the highest figure from the beginning of this year and an increase of 9.9% from the previous month. The country served 10.5 million domestic tourists in the month.

The Republic of Korea remains Vietnam’s biggest tourism market in the first four months of this year with one million visitors, followed by the US with 263,000 and China with 252,000 travellers.

The number of Chinese tourists to Vietnam in April was 112,000, up 61.5% from the previous month thanks to China’s border reopening to group tours from March 15.

Revenues from accommodation and catering services between January to April are estimated to reach 214.8 trillion VND, representing a year-on-year increase of 25.%.

Meanwhile, thanks to exciting cultural and tourism activities taking place in many localities in the early months of the year across localities, travel revenue was estimated at 9.1 trillion VND, nearly 2.1 times higher than the same period last year. This year, Vietnam is striving to serve 110 million tourists, including 8 million foreigners, and earn around 650 trillion VND from tourism services.

According to VNAT, the screening of the film “A tourist’s guide to love” which was shot in Vietnam has attracted the attention of audience around the world. The film features the beauty of local landscapes along with the beauty of Vietnamese people and culture at six main locations namely Hanoi, Ho Chi Minh City; Da Nang; Hoi An, My Son (Quang Nam) and Ha Giang.

It ranks third in the list of globally most-watched movies on Netflix with 13.4 million viewing hours.

The film not only popularises the image of Vietnam’s beauty to international friends, but also inspires international tourists to come to Vietnam immediately, the VNAT said./.

Source: Vietnam News Agency

Quang Tri: Flag-raising ceremony marks National Reunification Day

A flag-raising ceremony was solemnly held by the central province of Quang Tri at the Hien Luong – Ben Hai special national monument on April 30 to mark the 48th anniversary of the Liberation of the South and National Reunification Day, and 51st anniversary of Liberation of Quang Tri province (May 1, 1972-2023).

The national flag was raised to the peak of the monument as the national anthem was being played.

Participants observed a minute of silence in memory of those who laid down their lives for the independence and freedom of the Fatherland and happiness of the people.

The Hien Luong – Ben Hai special national monument is located at the foot of Hien Luong Bridge across Ben Hai River.

Ben Hai River divided North and South Vietnam after the signing of the Geneva Accords in 1954. Though the river is just over 100m wide, it took 21 years for the Vietnamese people on the two banks to be united.

The river and the bridge are witnesses to the Vietnamese people’s fierce but glorious struggle against foreign invaders and a reflection of their desire for and belief in victory.

Quang Tri was one of the most heavily bombed areas during the anti-US resistance war. The province was also renowned for the fierce 81-day-and-night battle at the ancient Quang Tri Citadel.

Within the event’s framework, Quang Tri province launched a design contest for apeace symbol, to be erected at the Peace Park in the Hien Luong – Ben Hai special national relic site.

On the occasion, a traditional boat race on Ben Hai River was held./.

Source: Vietnam News Agency

NA Chairman’s trip marks new milestone in relations with Latin American countries: officials

National Assembly Chairman Vuong Dinh Hue’s trip to Cuba, Argentina and Uruguay, from April 18-28, was a success as it opened up a new development period in relations between Vietnam and the three Latin American nations, said Bui Van Cuong, NA Secretary General and Chairman of the NA Office.

Sharing Cuong’s view, Vu Hai Ha, Chairman of the NA Committee for External Relations, highlighted the diverse and comprehensive contents of the meetings within the trip.

Lai Xuan Mon, deputy head of the Party Central Committee’s Commission for Information and Education, said the Cuban side spoke highly of the visit as well as NA Chairman Hue’s speech at a special plenary session of the 10th NA of the People’s Power of Cuba.

The speech served as a source of encouragement for Cuban officials, Party members and people to overcome challenges caused by the embargo to continue with the path towards socialism, he noted.

Vietnamese Ambassador to Cuba Le Thanh Tung said Cuban Party and State leaders offered special rituals to NA Chairman Hue and his entourage, and the two sides shared the view that the bilateral relationship has become an invaluable asset shared by the two nations. Mai Thi Phuong Hoa, Vice Chairwoman of the NA Committee for Judicial Affairs, who is also President of the Vietnam-Argentina Friendship Parliamentarians’ Group and the Vietnam-Uruguay Friendship Parliamentarians’ Group, said the Vietnam-Uruguay Friendship Parliamentarians’ Group, established on April 14, 2023, made its debut on this occasion.

This is an important parliamentary activity as it helps parliamentarians exchange professional experience, while promoting parliamentary diplomacy, she continued.

Regarding the trip’s outcomes in economic cooperation, Minister of Construction Nguyen Thanh Nghi, who co-chairs the Vietnam-Cuba Inter-Governmental Committee, said the committee will work harder to enhance trade ties between the two countries, thus raising the bilateral trade to 500 million USD in the near future.

Deputy Minister of Industry and Trade Do Thang Hai, who co-chairs the Vietnam-Argentina Inter-Governmental Committee, emphasised that the NA Chairman’s visit reiterated Vietnam’s commitment to working together with Argentina to advance the bilateral economic, trade and investment ties to a new height. For agriculture, the two sides continued looking into market opening for farm produce of each other, and cooperation potential in fishery, he said, adding that new collaboration fields were proposed during the visit like food safety, customs, science-technology, software, wood exploitation and processing, renewable energy, and innovation.

Following the trip, trade between Vietnam and Argentina and Uruguay, especially Vietnam’s exports to the markets, is expected to make progress, the official said.

Asked about cooperation prospects between Vietnam and the three countries, Deputy Minister of Foreign Affairs Ha Kim Ngoc said “we can be optimistic about cooperative relations with Cuba, Argentina and Uruguay.”

The sides displayed their determination, efforts and actions to materialise cooperation potential and opportunities, he explained.

Cuban and Argentine ambassadors to Vietnam also shared the view that the trip will exert profound and long-term impacts on cooperation between the Southeast Asian nation and the Latin American region./.

Source: Vietnam News Agency

‘Not ideal,’ PH coach says of FIBA World Cup group

Fans engaging in online and offline discussions overnight believe Gilas Pilipinas has a decent shot at hurdling past the first round of the FIBA World Cup. Gilas was drawn with Dominican Republic, Italy, and Angola in Group A following the group draw on Saturday night at the Smart Araneta Coliseum in Quezon City. However, Gilas coach Chot Reyes downplayed the potential “easiness” of the group. “This is the World Cup so there is no such thing as an easy draw,” Reyes said, even calling it “not ideal.” He said Ivory Coast would have been the better pick rather than Angola. “I would have hoped that the last pick could have been Ivory Coast instead of Angola because I thought Angola was the tougher team — not that I mean Ivory Coast is weak by all means,” Reyes further said. But now that the draw is done, Reyes said “it is what it is.” Now that Gilas knows who join them in Group A, the final preparation begins for the tournament co-host. “The good thing is that now, we have some clarity on who we’re playing with and what kind of preparation is necessary to be at our best,” Reyes further said. The next step, according to Reyes, is to build the roster that at least could hang on against the likes of Karl Anthony Towns. “The next phase is to take a look at the teams that we’re playing and to build a team and select players hopefully that we think can be able to compete with the players that we know who are going to be in the other teams,” Reyes said. The World Cup tips off Aug. 25 and ends Sept. 10. Groups A, B, C and D will play in the Philippines (Philippine Arena, Smart Araneta Coliseum, Mall of Asia Arena); Group E and F in Okinawa, Japan; and Group G and H in Jakarta, Indonesia. Indonesia did not qualify after missing out on at least a quarterfinal spot in the 2022 Fiba Asia Cup in Jakarta. ‘The Passion Wave’ Meanwhile, at a viewing party of the draw at a mall in Bonifacio Global City in Taguig, the international basketball organization FIBA unveiled the World Cup’s official ball, “The Passion Wave” by Molten. “People have different passions, so we express it through this ball,” Molten official Nao Naritaka explained the reason behind the ball’s name. Among the unique features of the design are gold-colored hearts, which resemble the heart-themed logo of the World Cup. “Gold is attractive to everyone,” Naritaka said. Only 500 Passion Wave balls have been manufactured for the World Cup, but Naritaka said Molten will continue the production of the balls post-tournament.

Source: Philippines News Agency