PVI's headquarters on Phạm Văn Bạch Street, Cầu Giấy District, Hà Nội. — Photo courtesy of the company

PVI Insurance has secured the top position in the list of the most reputable insurance companies in 2024, according to Vietnam Report.

PVI Insurance has emerged as the market's largest insurance company with the highest growth rate in the past years, establishing a significant leading position in the market.

In 2021, its total revenue reached VNĐ10.2 trillion (US$400.7 million) with a profit before tax of VNĐ790 billion. The following year, total revenue rose to nearly VNĐ12.8 trillion and profit before tax of VNĐ680 billion. In 2023, PVI Insurance reached a total revenue of over VNĐ14.5 trillion with a profit before tax of VNĐ795 billion.

Notably, PVI Insurance holds the highest charter capital among its competitors.

By 2024, PVI Insurance successfully increased its charter capital from VNĐ3.3 trillion to VNĐ3.5 trillion. The strategic move aims to enhance financial capacity, expand operations, invest in infrastructure and technology, and diversify product offerings to meet customer demands.

The company’s focus on sustainable development and customer-centric approach is evident in its strong performance and market position.

Last year, PVI Insurance achieved another notable milestone by becoming the first and only non-life insurance firm to receive an international financial strength rating of A- (excellent) and an issuer credit rating of A- (excellent).

AM Best, which is the largest credit rating agency in the world specialising in the insurance industry, has also assigned a national scale rating (NSR) of aaa.VN (Exceptional) to PVI Insurance with a stable outlook.

These ratings, with stable outlooks, highlight PVI Insurance's strong financial capabilities, impressive operational performance, stable business growth and effective enterprise risk management (ERM) system.

The ratings also consider the beneficial impact of HDI (HDI V.a.G.), a significant shareholder of PVI Insurance. — VNS