The PVI 2025 Investor Conference was held in Hà Nội on Wednesday. — Photo courtesy of the firm

HÀ NỘI — PVI Holdings reported its strongest business performance to date at its 2025 Investor Conference, underscoring a year of robust growth as the insurer moves toward its 30th anniversary.

The company recorded VNĐ22.8  trillion (US$864 million) in revenue and VNĐ1.4 trillion in consolidated pre-tax profit in the first nine months, equivalent to 139 per cent of its full-year revenue plan and 174 per cent of its profit target.

Revenue rose 36 per cent year-on-year, fuelled by a 38 per cent surge in its insurance business. Pre-tax profit climbed 52 per cent, with nearly equal contributions from insurance underwriting, which delivered VNĐ757 billion, and investment and other income at VNĐ730 billion.

The Investor Conference 2025, themed 'Boundless Innovator', gathered institutional investors, financial analysts and representatives from domestic and international organisations. This year’s event held additional significance as PVI prepares to mark three decades of development, a period that has seen it grow from its early foundations into a leading player in Việt Nam’s insurance and financial services market.

PVI’s financial resilience has long been recognised by shareholders, reflected in its ability to maintain cash dividends of at least 20 per cent for a decade. In the non-life segment, PVI continues to hold the top position with an 18.8 per cent market share.

The company retained its A- credit rating from AM Best in 2025 and was named among the Top 3 Non-life Insurers of the Year at the 29th Asia Insurance Industry Awards, adding to a series of accolades that underline the strength and competitiveness of a Vietnamese brand at the regional level.

For 2025, PVI expects full-year revenue of approximately VNĐ28.3 trillion and pre-tax profit of VNĐ1.57 trillion, providing a solid launchpad for 2026.

At the conference, Chief Accountant Trần Duy Cương said PVI delivered its highest-ever nine-month results. Insurance profit rose 160 per cent, driven by 12 per cent growth in original premium and a near doubling of reinsurance revenue, especially from overseas markets.

He noted, however, that the company remains cautious for the remainder of the year due to successive storms that have heightened claims pressures across the industry.

“Each storm may seem small, but their cumulative effect is significant for Việt Nam’s insurance market and for PVI. This will influence our 2026 business outlook,” he said.

Cương emphasised that fourth-quarter results may shift depending on actual loss developments, which remain preliminary.

Looking ahead to the new year, the company targets revenue of VNĐ28.8 trillion and pre-tax profit of VNĐ1.24 trillion. Its return on equity is projected to remain above 11 per cent. PVI is also preparing a capital increase of VNĐ680 billion to strengthen long-term growth momentum and deepen strategic cooperation, particularly with Hanoi Re.

Insurance profit is expected to soften slightly as reinsurance costs remain high amid elevated risk conditions in Việt Nam. Investment strategy will continue to prioritise safety, allocating about 70 per cent to deposits, 20 per cent to bonds and the remainder to higher-risk assets.

The conference also provided updates on Petrovietnam’s plan to divest its entire 35 per cent stake in PVI. According to General Director Nguyễn Tuấn Tú, final consultations are nearly complete, and the approved method is a full-lot public auction, expected by the end of this year or early 2026.

Vice Chairman Dương Thanh Danh said the divestment would not negatively affect operations, although senior governance structures could adjust depending on the new shareholder.

As PVI moves into a new phase of development, it aims to strengthen core underwriting discipline, accelerate digital and distribution transformation, optimise capital and risk management and maintain long-term value for shareholders and customers. — BIZHUB/VNS