PVI Insurance climbs up list of 500 most profitable companies

Monday, Oct 12, 2020 16:42

PVI head office in Ha Noi. The non-life insurance company is among the most 500 profitable in Vietnam Report. — VNS Photo

Leading insurer PVI Insurance Corporation has made it to Profit500 list.

The list, drawn up by Vietnam Report and VietnamNet online newspaper, contains the country’s top 500 companies in terms of profits.

PVI Insurance is ranked 75th, a jump of 21 places from last year.

A survey by Vietnam Report in August said 54 per cent of companies saw profits come down in the first half, while 31 per cent suffered major losses.

Seeing the difficulties caused by the COVID-19 pandemic and the global economic and political instability, many Vietnamese companies changed their business strategy in 2020. In the event, nearly 70 per cent of surveyed companies said they achieved 50 per cent of the annual target.

In the first nine months PVI Insurance earned profits of VND300 billion (US$13 million) from insurance business, or 116 per cent of the annual target, and leads the insurance market in terms of profits.

The Profit500 list, which is jointly organised by Vietnam Report and VietnamNet online newspaper, aims at honouring companies who are capable of generating healthy profits and contributing to the overall economic development of Viet Nam, thus supporting the promotion of Vietnamese brands both at home and abroad. — VNS

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