Vietnam Report has recently announced the Top 10 Reputable Insurance Companies of 2024, with PVI Insurance outstandingly leading the list.

In recent years, PVI Insurance has experienced remarkable acceleration and breakthroughs, emerging as the largest insurer with the fastest growth rate, distinctly outpacing its competitors in the top 5 market leaders. Specifically, in 2021, PVI Insurance recorded a total revenue of VND 10.2 trillion, with a pre-tax profit of VND 790 billion. In 2022, its total revenue surged to VND 12.765 trillion, accompanied by a pre-tax profit of VND 680 billion. By 2023, the company had reached a total revenue of VND 14.553 trillion, yielding a pre-tax profit of VND 795 billion.

Moreover, PVI is the largest charter capital in the market. In 2024, PVI Insurance successfully increased its charter capital from VND 3.3 trillion to VND 3.5 trillion.

Increasing the charter capital is part of the development strategy aimed at enhancing financial capacity. This facilitates favorable conditions for expanding operational networks, investing in infrastructure, technology, diversifying product services to better meet the increasingly high demands of customers, and gradually deepening involvement in the international insurance market. This underscores the corporation’s commitment to sustainable, customer-centric growth.

Another notable achievement in 2023 was when PVI Insurance became the first and only Non-Life Insurance Company to rank the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “A-” (Excellent). The outlook of these Credit Ratings is stable. Additionally, AM Best has assigned the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) to PVI Insurance with a stable standpoint.

The ratings reflect PVI Insurance’s balance sheet strength, which AM Best assesses as resilient, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also consider the positive influence of HDI Group (HDI V.a.G.), a major shareholder of PVI Insurance.