On the afternoon of February 16, 2023, in Hanoi, PVI Insurance Corporation (PVI Insurance) successfully held a Ceremony of Business Activitiy Summary and honoring the outstanding collectives and individuals in 2022.
Attending the ceremony, on PVI Holdings' side, there were Mr. Nguyen Xuan Hoa, Standing Chairman of the Board of Directors, General Director; Mr. Doan Linh, Member of the Board of Directors; Ms. Ha Lan, Head of the Supervisory Board; Mr. Phung Tuan Kien, Deputy General Director of PVI Holdings; and representatives of the Board of Directors, Supervisory Board, Leaders of the Board of PVI Holdings, Leaders of PVI Reinsurance Corporation, PVI Fund Management Joint Stock Company, PVI IT Center and Service Management & Business Center
On the side of PVI Insurance, there were Mr. Duong Thanh Danh Francois, Vice Chairman of the Board of Directors of PVI Holdings, Chairman of the Board of Members of PVI Insurance; Mr. Pham Anh Duc, General Director of PVI Insurance and representatives of the Members' Council, the Board of Directors of PVI Insurance, Leaders of the Boards and Directors of member units, Heads of Customer Care Representative Offices. Especially, there were 232 delegates who are typical Trade Union officials and members representing more than 2,400 officials, Trade Union members and deputy directors of 40 member units participating online from various locations nationwide.
In 2022, with many unusual changes and challenges, such as: the domestic economy in particular and the global economy in general suffered great impacts and recovered slowly after the Covid-19 pandemic, the Russia-Ukraine War, serious impacts of natural disasters, especially in the Central region. All those socio-economic factors have led to a challenging 2022 for PVI Insurance's production and business activities.
However, under the leadership of the Board of Directors as well as the contribution and unremitting efforts of all employees, PVI Insurance has successfully completed its business mission in 2022, and firmly held its No. 1 position in the non-life insurance market on all positive financial indicators. The company exceeded the planned revenue targets, leading the market in terms of total revenue and insurance market share in which total revenue reached VND 12,765 billion, completing 120.2% of the plan and growing by 25.1% with original insurance business reached VND 10,032 billion, up 21%;
PVI Insurance exceeded the plan of Pre-tax profit and Total profit and Profit from insurance business are the highest in the market of Non – life insurance: Pre-tax profit is VND 680 billion, completing 110% of the plan in 2022, the combined rate reached 94.05%. With that excellent performce, PVI Insurance for the second time in a row is the Top 50 most profitable enterprises in Vietnam for the 2021 - 2022 period.
In 2022, PVI Insurance succeeded after increasing its charter capital to VND 3,300 billion, continuing to be the maket’s largest non – life insurance enterprise with the largest capital, scale and efficiency.
In parallel with maintaining tradinational product channels, PVI Insurance also strongly deployed an e- commerce channel with a revenue of over VND 400 billion, increasing 1.5 times compared to the year 2021. At the same time, on January 01, 2023, PVI Insurance officially established and put into operation PVI Digital Insurance Company that is for developing ecommerce channels nationwide.
One of the highlights in the year 2022 is that PVI Insurance focuses on developing new distribution channels, diversifying exploitation channels: signing cooperation agreements with two large organizations such as Social Insurance and Farmer’s Union in the localities. Through these two organizations, PVI Insurance has cooperated in training and developing a force of collaborators and sales agents, contributing to the development of the household economy as well as offering advanced insurance products, improving the welfare of the people, contributing to ensuring the people's social security and life.
The year 2023 continues to be a year of upheaval and challenges. PVI Insurance's leadership and employees are determined to conquer new tasks and milestones. Accordingly, PVI Insurance aims to exceed the targets of the business plan in 2023 and continue to maintain its position as the No. 1 insurer in the non-life insurance market in terms of scale and efficiency; focus on expanding and occupying foreign-invested projects and small and medium-sized services; continue to promote development of e-commerce and brokerage channels; maintaining the retail system while growing in size and maintaining efficiency.
At the ceremony, PVI Vung Tau Insurance was also honored, the unit with the best achievements, and honored the collectives and individuals with outstanding achievements in 2022, and awarded medals to the officials with 10, 15 and 20 years of dedication.
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