On April 21, 2023, at the Headquarters of PVI Tower, PVI Holdings (PVI) successfully held a conference to review business activities in the first 3 months of 2023 and implement the business plan for the second quarter of 2023. Mr. Nguyen Xuan Hoa – Standing Vice Chairman of the Board of Directors cum CEO chaired the conference. Attending the conference were Mr. Duong Thanh Francois – Vice Chairman of the Board of Directors, Mr. Doan Linh - Member of the Board of Directors of PVI, Head of Supervisory Board, Board of Management, Directors of Divisions/Centers under the parent company and leaders of subsidiaries. PVI's subsidiaries include PVI Insurance Corporation, PVI Reinsurance Corporation, PVI Asset Management Joint Stock Company.
By the end of Q1, 2023, the whole PVI system has exceeded the business plan targets assigned by the Board of Directors/AGM: Total consolidated revenue in the first 3 months of 2023 reached 4,366 billion VND, completing 114% of the plan, profit before tax in the first 3 months reached 318 billion VND, completing 149% of the plan.
Investment activities continue to bring the main source of profit for the whole system. Consolidated financial investment revenue is estimated at 303 billion VND, completing 149% of the plan and growing by nearly 60% over the same period.
At the end of the first quarter of 2023, total revenue of PVI Insurance reached 3,963 billion VND, completing 113% of the quarter plan. Profit before tax reached 181 billion VND, completing 132% of the quarter plan.
Reinsurance activity also saw strong growth from the beginning of 2023 with reinsurance revenue reaching 749 billion VND, completing 125% of the Q1.2023 plan and growing 20.9% over the same period last year.
In the first quarter of 2023, PVI's Board of Directors supervised the activities of the Board of Management through internal audit programs and attended Board of Directors meetings, periodic reports on business activities, situation financial form. The Board of Directors directed the Board of Management to operate in accordance with the provisions of law, the Charter of PVI and strictly comply with the Resolutions of the General Meeting of Shareholders and the Board of Directors; promote activities to improve the efficiency of the management and supervision system throughout PVI such as consolidating senior personnel, restructuring, and perfecting the corporate governance model.
All the achieved results have recognized the efforts of all employees and the responsibility of key officials in the whole system. On that basis, PVI's Board of Management made specific guiding statements for each subsidiary/center in order to orient the plan and implement solutions in the second quarter of 2023, striving to successfully complete the all targets for the year 2023 assigned by the Board of Directors/AGMS.