On September 12, 2025, at the Meeting Room on the 26th Floor, PVI Building, No. 1 Pham Van Bach, Hanoi; PVI Joint Stock Company held the Board of Directors Meeting III 2025 with the participation of PVI Board of Directors Members, Executive Board, Supervisory Board and representatives of Member Units, affiliated Centers and related functional Departments.
The meeting was chaired by Mr. Jens Holger Wohlthat - Chairman of the Board of Directors.
In this meeting, PVI was honored to welcome the participation of guests from HDI Global SE: Mr. David Hullin - Member of the Executive Board of HDI Global SE, Mr. Thorsten Wölbern - Representative of HDI Global SE and Mr. Alexander Nicolai Neumann.
At the 3rd Board of Directors meeting in 2025, the Board members discussed and proposed important solutions to monitor and promote business activities in the last 6 months of 2025, strengthen governance, and improve the efficiency of financial investment activities. The Board of Directors discussed human resources at PVI and its member units in addition to updating on internal audit, compliance and risk management.
The Board of Directors highly appreciates the results achieved by the entire PVI system in the first half of 2025. Specifically, PVI as a whole exceeded the six-month targets assigned by the Board for Revenue and Consolidated Profit Before Tax, reaching 136% and 167% of the plan, respectively. Consolidated revenue reached VND 15,351 billion, up 31.8% compared to the same period last year, completing 136% of the six-month plan. Consolidated profit before tax reached VND 940 billion, up 20% year-on-year, fulfilling 167% of the six-month plan. Despite forecasts of continued challenges for both the global and Vietnamese economies, as well as the insurance market being impacted by major losses, the entire PVI system made strong efforts to accomplish the business plan for the first half of 2025 as approved by the General Meeting of Shareholders.
PVI’s consolidated business results include contributions from its subsidiaries, PVI Opportunity Investment Fund, and PVI Infrastructure Investment Fund. Insurance business, PVI’s core activity, continued to maintain positive growth, with gross written premiums reaching VND 8,021 billion, up 13.5% year-on-year. In reinsurance, PVI recorded robust growth, with reinsurance revenue reaching VND 6,284 billion, up 69.5% compared to the same period, driven by the advantage of its upgraded A- rating.
In the first half of 2025, investment opportunities in the financial market remained limited. However, thanks to flexible portfolio adjustments, PVI met expectations. Consolidated investment activities generated a profit of VND 467 billion, up 2.2% year-on-year. The combined ratio for the first half of 2025 stood at 87.4%, lower than both the plan (93.6%) and the same period last year (89.7%), reflecting outstanding efficiency in insurance operations.
During the meeting, the Board of Directors also discussed senior personnel matters at PVI and its subsidiaries, internal audit and risk management, the dividend payment plan for 2024, as well as other issues under the Board’s authority.
In terms of governance, PVI will continue to strengthen management, compliance monitoring, transparency, and systemic risk management. At the same time, the company will enhance professionalism in insurance/reinsurance operations and fund management, following the principles of effective business, capital preservation, and sustainable growth, thereby maintaining its leading position in Vietnam’s non-life insurance market in terms of operational efficiency.
