PVI Insurance is ranked among top 500 profitable companies in Vietnam

04:13' CH - Thứ ba, 13/10/2020

Recently, Vietnam Report Joint Stock Company (Vietnam Report) in collaboration with VietnamNet Newspaper, announced PROFIT500 List - Top 500 Profitable Companies in Vietnam in 2020 - to honor companies who are capable of generate healthy profits, have potential to become the pillars of Vietnam's economy, and help promoting Vietnamese brands to domestic and international business communities.

PVI Insurance is ranked 75th in the 2020 PROFIT500 list, among top 500 profitable private companies in Vietnam, up 21 places from last year. In 2019, PVI jumped up 300 places from 2017.

According to the survey of Vietnam Report, up to 60% of companies said that their revenues in the first 6 months of 2020 decreased compared to the same period in 2019, nearly 15% of which witnessed a sharp decline in revenues. Profits experience same trend when up to 54% of companies said that their pre-tax profits in the first 6 months of 2020 decreased compared to the same period in 2019, especially, up to 31% of these companies either saw a sharp decline in profits or suffered major losses.

Being well aware of the difficulties caused by the pandemic as well as the global economic and political instability, many businesses have changed their 2020 business strategies to be more suitable and practical. 77.1% of surveyed companies said that they have completed over 50% of their 2020 revenue targets, 36.1% of which have completed over 80% of their annual targets. In terms of 2020 profits, 68.9% of surveyed companies said that they have completed over 50% of their targets, 31.1% of which have completed over 80% of annual targets. Above survey, which was implemented by Vietnam Report in August 2020, revealed that as of more than half way through 2020, many companies still managed to maintain good growth with very positive business results.

PVI Insurance is one of the bright spots in the insurance market and the business community. By the end of the first 9 months of 2020, it exceeded the profit target in insurance sector alone with an amount of nearly VND 300 billion, equivalent to 116 % of annual target and maintain the leading position in the market in terms of profit.

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