HANOI — PVI Insurance has made a strong start to 2025, maintaining its leadership position in Vietnam’s non-life insurance market. The company reported impressive financial results and strategic advancements despite a volatile economic environment.
In the first quarter of 2025, PVI Insurance achieved total revenue of nearly VND 7.22 trillion (US$281 million), surpassing its Q1 target by 120.7% and reaching 36.3% of its annual 2025 goal. This represents an 18.9% year-on-year growth, demonstrating the company’s effective growth strategies and risk management practices.
The reinsurance segment was particularly noteworthy, with revenue reaching nearly VND 2.2 trillion, a 54.5% increase compared to the same period last year. The social insurance collection activity also showed positive results, with total collected fees exceeding VND 743 billion, a 48.5% year-on-year increase.
PVI Insurance has been innovating its distribution channels to expand its influence. Revenue from cross-selling with major partners such as The gioi di dong, Samsung, Momo, Zalopay, and Shopee grew significantly to VND 291 billion, 1.8 times higher than the previous year. E-commerce has become a key focus for customer acquisition and improving customer experience through seamless insurance purchasing and after-sales service.
The company has also partnered with VnPost to introduce property and technical insurance distribution through the postal network. This move aims to reach new customer segments and raise awareness in underserved communities, further expanding PVI Insurance’s market presence.
Despite global economic complexities and rising natural disaster risks, PVI Insurance has remained focused on its business objectives. The company’s financial investments continue to provide stable cash flow, ensuring liquidity and boosting profitability.
AM Best has reaffirmed PVI Insurance’s A- (Excellent) credit rating with a stable outlook for the third consecutive year. This rating highlights the company’s strong financial foundation, stable payout capabilities, and professional international risk management standards.
Last year, PVI Insurance made history by becoming the first and only non-life insurance company in Vietnam to exceed VND 20 trillion (roughly US$800 million) in revenue. With a solid start to 2025, the company is on track to achieve its goal of becoming a $1 billion company, a milestone that marks its 30th anniversary and strengthens its leadership position in Vietnam’s non-life insurance industry.
