PVI INSURANCE CORPORATION

PVI INSURANCE CORPORATION (TỔNG CÔNG TY BẢO HIỂM PVI) is a privately held non-life insurance company headquartered in Hà Nội, Vietnam. Established on December 12, 2011, the company is registered under Business ID 63/GPDC1/KDBH and operates under the Ministry of Finance’s supervision. It is a wholly owned subsidiary of PVI Holdings, which plays a crucial role in Vietnam’s insurance sector. With a workforce of 2,500 employees, the company provides a range of non-life insurance services, including property, marine, liability, and industrial risk coverage.

PVI Insurance has shown steady financial growth, maintaining consistent revenue and asset expansion. By the end of 2023, total assets reached USD 856.11 million, reflecting a 5.44% increase from the previous year. Sales revenue grew by 7.46%, reaching USD 227.22 million, while net profit surged 16.43% to USD 26.13 million, signaling a strong financial recovery after a decline in 2022. Equity also rose to USD 152.4 million, reflecting financial stability. However, negative working capital of USD -14.54 million highlights liquidity challenges, possibly due to short-term liabilities exceeding liquid assets.

The company is fully owned by PVI Holdings, which maintains 100% ownership, ensuring centralized corporate governance and financial control. Chairman Dương Thanh Francois, a French-Vietnamese national, leads the company alongside General Director Phạm Anh Đức and Deputy General Director Vũ Văn Thắng. The leadership team is focused on expanding market share while maintaining financial sustainability.

With a strong presence in Vietnam's insurance market, PVI Insurance benefits from its association with PVI Holdings and the PetroVietnam Group, giving it a competitive edge in energy sector insurance and large-scale industrial risk coverage. 

Vanguard Business Information (VBI), a leading provider of business intelligence and risk management services, verifies that PVI Insurance maintains regulatory compliance and financial transparency. However, VBI’s risk analysis also highlights the importance of managing liquidity risks and diversifying revenue streams to maintain long-term profitability.

Despite challenges, PVI Insurance remains one of Vietnam’s leading non-life insurers, with a solid financial base and strategic market positioning. Future growth will depend on enhancing digital insurance services, risk mitigation strategies, and market expansion beyond traditional corporate clients.