On April 23, 2024, at PVI Tower, PVI Joint Stock Company (PVI) successfully organized a conference to summarize business activities in the first 3 months of 2024 and implement the business plan for the second quarter in 2024. Mr. Nguyen Xuan Hoa – Standing Vice Chairman of the Board of Directors/CEO of PVI and Mr. Duong Thanh Danh Francois - Vice Chairman of the Board of Directors of PVI chaired the conference. Attending the conference, there were Mr. Doan Linh - Member of the Board of Directors of PVI, Mrs. Bui Thi Nguyet - Independent Director, Head of the Supervisory Board, Board of Management, Directors of Departments/Centers under the Parent Company and Board of Management of subsidiaries in the PVI system including PVI Insurance Company, Hanoi Reinsurance Joint Stock Corporation, PVI Asset Management Joint Stock Company.

At the end of Q1/2024, the entire PVI system has exceeded the business plan targets assigned by the Board of Directors/General Meeting of Shareholders: Total consolidated revenue in the first 3 months of 2024 reached 6,504 billion VND, completing 137% of the plan, consolidated Profit before tax for the first 3 months of the year reached 446 billion VND, completing 143% of the plan.

Investment activities contribute the main source of profit for the entire system. With an investment portfolio structure that has been flexibly adjusted since the beginning of 2023, PVI has taken advantage of a relatively large amount of investment capital with favorable interest rates, ensuring investment profit expectations for the whole company. 2024. Consolidated investment activities bring a gross profit of 218 billion VND, increasing 3.7% over the same period last year. The financial investment revenue of the whole system reached 314 billion VND, completing 115% of the plan and growing nearly 3.5% over the same period.

By the end of the first quarter of 2024, primary insurance revenue reached 4,217 billion VND, completing 117% of the 3M plan, gross profit from insurance business activities reached 360 billion VND, an increase of 48% over the same period last year because PVI always has its own innovations and paths in services, management solutions and product distribution methods, although the insurance market in 2024 continues to record an increase in compensation costs and price competition on domestic and international fees.
On March 27, 2024, financial credit rating organization A.M. Best reaffirmed the Financial Capacity Rating at A- (Excellent) and the Issuer Credit Rating at “a-” ( Excellence) for PVI Insurance Corporation. The above ratings show that PVI Insurance's financial capacity is considered very strong by A.M.Best, and A.M. Best evaluates the ERM corporate governance model of PVI Insurance is appropriate for its scale and the complexity of the company's current operations. PVI Insurance benefits from management and risk management support from HDI V.a.G.

On March 29, 2024, PVI Insurance was approved by the Ministry of Finance to increase its charter capital from 3,300 billion VND to 3,500 billion VND in official dispatch No. 63/GPĐC23/KDBH, continuing to be a non-life insurance enterprise with Largest charter capital in Vietnam market.

Reinsurance activities also have strong growth from the beginning of 2024 with a strategy to expand international markets on the principle of ensuring safety and efficiency with reinsurance revenue reaching 1,870 billion VND, completing 233 million % of Q1.2024 plan and growth of 64% over the same period last year. During the evaluation period, Hanoi Re was adjusted by the international credit rating organization A.M Best to upgrade the issuer's long-term credit capacity rating to bbb from Stabilize to positive. A.M.Best also affirmed Hanoi Re's financial capacity rating of B++ (Good) with a stable outlook

In the first quarter of 2024, 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 2024, striving to successfully complete the all targets for the year 2024 assigned by the Board of Directors/AGMS.