Petrovietnam Insurance Co, the insurance arm of Vietnam’s state oil and gas group Petrovietnam, said on Wednesday it was in talks to sell a stake to a strategic investor, but did not name the investor.

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Petrovietnam Insurance says in stake sale talks

Newly proposed amendments to the insurance law will require local insurers to earmark a portion of their revenues for a guarantee fund in order to protect policy holders.

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Guarantee fund proposed to protect insurance policy holders

Oman Investment Fund has acquired a 12.6 percent stake in PetroVietnam Insurance Co, the insurance arm of Vietnam’s state oil and gas group, for US$42.4 million, a statement said Thursday.

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Oman fund buys 12.6 pct stake in PetroVietnam unit