On the afternoon of January 18, 2024, in Ho Chi Minh City, Vietnam Report in collaboration with VietNamNet Electronic Newspaper officially held the Ceremony to announce the VNR500 Ranking 2023. PVI Holdings is honored to be awarded in the VNR500 Ranking - Top 500 Largest Enterprises in Vietnam in 2023 and also honored in the Top 50 Best Enterprises in Vietnam voted by Vietnam Report.
This is a prestigious ranking built on the results of research and independent evaluation according to international standards of Vietnam Report and published annually by VietNamNet Newspaper. The VNR500 brand not only represents important leaders. of Vietnam's economy but also a launching pad to help businesses build reputation in domestic and foreign markets.
By the end of 2023, the entire PVI system has achieved remarkable success in fulfilling the tasks and plans assigned by the Annual General Meeting of Shareholders (AGMS), with total consolidated revenue reaching VND 16,083 billion, surpassing the plan by 119%. The consolidated profit before tax is VND 1,253 billion, exceeding the plan by 26%, and the expected dividend payout ratio exceeds the AGMS-assigned ratio.
Simultaneously, subsidiaries within the system have maintained their results and market positions, with PVI Insurance, the core company, witnessing an upgrade in its financial strength rating by the global credit rating agency AM Best from B++ (good) to A- (excellent) – the highest credit rating level achieved by a Vietnamese company to date. This upgrade serves as a pivotal factor for PVI in expanding its international market presence, evidenced by a substantial 55% growth in reinsurance premium revenue compared to the same period in 2023.
In 2024, in addition to consolidating its position as the foremost provider of insurance solutions in Vietnam, PVI is actively pursuing the trajectory to evolve into a professional finance-insurance institution, aiming to establish a robust presence in both regional and global markets.