HÀ NỘI — PVI Insurance Corporation has reinforced its position within the international insurance market after securing an A– (Excellent) financial strength rating with a stable outlook for the fourth consecutive year from AM Best. The reaffirmation highlights not only the company’s sustained growth trajectory but also the robustness of its financial architecture and adherence to internationally recognised risk management standards.
According to the assessment, PVI Insurance’s balance sheet strength remains “very strong”, underpinned by stable operating performance, a diversified and balanced business profile, and prudent risk governance. These attributes have allowed the insurer to navigate an increasingly volatile global insurance environment while maintaining consistency in both underwriting discipline and profitability.
A landmark achievement came in 2025, when PVI Insurance became the first non-life insurer in Vietnam to surpass US$1 billion in total revenue. This milestone underscores the company’s growing scale and influence within the domestic market, as well as its rising credibility among international stakeholders.
Key Financial and Operational Indicators
| Indicator | 2025 Performance | Significance |
|---|---|---|
| Financial Strength Rating | A– (Stable) | Fourth consecutive year at this level |
| Total Revenue | Over US$1 billion | First non-life insurer in Vietnam to achieve this |
| Pre-tax Profit | VNĐ1.066 trillion (~US$41 million) | Strong earnings and profitability |
| Capital Adequacy (BCAR) | Highest level (medium term) | Robust buffer for long-term growth |
| Return on Equity | High multi-year average | Demonstrates sustainable earnings |
Capital adequacy, as measured by the Best’s Capital Adequacy Ratio (BCAR), continues to rank at the highest level over the medium term. This provides a solid foundation for future expansion while ensuring resilience against potential financial shocks. The company’s consistently high return on equity further reflects its ability to generate sustainable profits over time.
PVI Insurance has also maintained a dominant presence in technically demanding sectors such as energy, engineering, property, and marine insurance. These segments require not only significant capital backing but also deep technical expertise. Strategic support from HDI V.a.G., a major shareholder of PVI Holdings, has played a pivotal role in strengthening governance standards, enhancing underwriting capacity, and facilitating access to international markets.
Operationally, the insurer recorded solid growth throughout 2025 by improving underwriting efficiency, tightening claims management, and expanding reinsurance activities. These factors have contributed to higher-quality earnings and reinforced financial resilience—key elements in sustaining its A– rating over multiple years, a notable accomplishment in a competitive regional landscape.
International recognition has further bolstered the company’s profile. In 2025, PVI Insurance became the first Vietnamese insurer to win both “General Insurer of the Year” and “Underwriting Initiative of the Year” at the InsuranceAsia News Awards for Excellence 2025, reflecting its innovation and operational excellence.
Looking ahead to 2026, PVI Insurance intends to deepen investment in core competencies, accelerate digital transformation, and broaden its partnership ecosystem. These initiatives are expected to support sustainable growth while strengthening its footprint across regional and global markets.