PetroVietnam Insurance (PVI) estimated pre-tax profit at VND730 billion (US$32.2 million) this year, exceeding the yearly plan by nearly 43 per cent, Vu Van Thang, PVI deputy general director, said.

It earned revenue of VND8.78 trillion, surpassing its target for the whole year by 3 per cent.

PVI plans to reach total revenue of VND8.7 trillion with pre-tax profit of VND578 billion in 2017 as it forecasts the next year to be a difficult one.

To complete the goal set for the new year, Thang said PVI and its member units would continue to build a transparent management system; implement risk management and enterprise restructure; and develop businesses, markets and brands; while expanding businesses apart from oil and gas.

At the same time, PVI would also build a management strategy, train and develop human resources and continue completing its management of information and technology.

PVI remains the No 1 non-life insurer in the local market, while its reinsurance plays the leading role in the reinsurance sector, according Thắng.

In 2016, PVI was recognised as one of the 30 Vietnamese most valuable brands in 2016 by Brand Finance. It was also honoured by the Vietnamese edition of Forbes Magazine as one of 50 best companies on the Vietnamese stock market. — VNS