On the afternoon of September 19th , 2023, at PVI Tower, the third meeting of PVI’s Board of Directors of 2023 took place with the participation of members of Board of Directors, Board of Management, Board of Supervisors and Representatives of Subsidiaries and affiliated Centers and relevant functional divisions.

At the meeting, the Board of Directors highly appreciated the results and achievements that the entire PVI system achieved in the first 6 months of 2023, exceeding the business plan targets for the first 6 months of 2023 according to the plan set by the General Meeting of Shareholders / assigned by the Board of Directors. Specifically: according to the audited consolidated financial statements, PVI exceeded the plan for the targets of Total Revenue and Consolidated Profit before Tax assigned by the Board of Directors/General Meeting of Shareholders with rates of 112% and 152%, respectively. All indicators increased over the same period. The main growth motivation comes from the financial investment activities of the entire system.

Insurance business is PVI's core activity and still ensures high growth, primary insurance revenue reached 5,700 billion VND, completing 109% of the 6M plan, consolidated insurance business profit reaching 183 billion VND, completing 107% of the 6M/2023 plan because PVI always focuses on improving services, enhancing management and product distribution methods although the insurance market in 2023 continues to record low increase in compensation costs and competitive prices domestically and internationally.

Reinsurance activities also have strong growth from the beginning of 2023 with reinsurance revenue reaching 1,419 billion VND, completing 111% of the 6M/2023 plan.

The financial market in early 2023 recorded many fluctuations in interest rates, products and investor psychology. However, with the advantage of cash flow in the first months of 2023, PVI has taken advantage of a relatively large amount of investment capital at favorable interest rates, ensuring high profitability in investment activities for both 2023.

Financial investment revenue reached 660 billion VND, reaching 151% of the 6M plan due to the benefit of deposit interest rates continuing to remain high.

For PVI Holdings, in the first 6 months of the year, PVI Holdings exceeded the plan for both revenue and pre-tax profit targets at a rate of 108% and 136% of the plan, respectively. Total revenue reached 438 billion VND; Profit before tax reached 291 billion VND.

In June 2023, PVI was honored to be awarded by Forbes Vietnam in the Top 50 best listed companies in Vietnam for the 7th time. On September 11, 2023, according to Vietnam Report's announcement, PVI Insurance and PVI Holdings were both honored to be awarded “Top 50 excellent profitable enterprises in Vietnam”. On September 16, 2023, PVI continued to be honored “Top 50 most effective business companies in Vietnam” voted by Nhip Cau Dau Tu Magazine in collaboration with Thien Viet Securities Company.

Regarding governance, PVI Holdings will implement and improve management, compliance monitoring, transparent governance, and strengthen systemic risk management. At the same time, improve professionalism in insurance/reinsurance business, investment and fund management based on the principles of effective business, capital preservation and sustainable growth, continuing to maintain the leading position in Vietnam non-life insurance market.

At the meeting, the Board of Directors discussed and provided directions and orientations to promote the completion of targets and plans for 2023. At the same time, Committees under the Board of Directors also reported updating their work such as the investment situation of the Board of Directors throughout the system, amending Regulations on Personnel Management and Regulations on expenses and financial management..., contributing to strengthening the role and operational efficiency of the Committees in PVI's corporate governance.