PJICO: 30 years of development

11:19 | 22/11/2024 Vietnamese Brands Follow Ven.vn on

(VEN) - Throughout the past 30 years of establishment and development, Petrolimex Insurance Corporation (PJICO) has solidified its position in the non-life insurance sector and overcame numerous challenges.

The ceremony launching PJICO’s new brand identity

From its humble beginnings in terms of capital and human resources, PJICO’s financial capacity and business efficiency have been continuously improved. Its revenue has been steadily grown from VND1.3 trillion in 2008 to VND2.757 trillion in 2015. In 2023, PJICO’s total revenue reached VND4.847 trillion in which direct insurance revenue was VND4.023 trillion.

PJICO has been rated B++ in financial strength by AM Best for many consecutive years and aaa.vn under country credit rating. Notably, PJICO is in top leader list concerning fluctuation reserve fund. It has shown its role and ability to support and settle in time for significant human and property damages for clients insured by PJICO.

With a sustainable development strategy, PJICO has built a solid foundation to manage risks and contributed in innovation trends of the insurance sector on the whole and non-life one in particular. At the time being, PJICO has been providing comprehensive and diverse range with 100 products of non-life lines of business such as motor vehicles, healthcare, property, and cargo, as well as aviation and marine insurance...

In accordance with strategy of profit target, PJICO has achieved positive results in the first nine months of 2024 with the total revenue reaching VND3.908 trillion and fulfilling 82 percent of the annual plan. At the meanwhile, the pre-tax profit has amounted to VND242.6 billion for the same period for 84 percent of the target plan issued by the General Shareholders’ meeting.

PJICO implements a series of social welfare programs to support victims of Typhoon Yagi in September 2024

In addition to business development, PJICO has actively attended and contributed to social responsibility activities to the community. After the first nine months of 2024, PJICO has allocated over VND4.7 billion to social welfare, charity, and relief activities for individuals facing extreme hardship. Notably, following Typhoon Yagi occurred in early September, 2024, PJICO organized a series of social welfare activities in heavily affected areas such as Quang Ninh, Hai Phong, Ha Nam, Yen Bai, Lao Cai, Bac Giang, and Tuyen Quang…

The year 2025 will be the milestone of PJICO’s 30th anniversary (1995-2025). PJICO’s 30-year journey is not only a story of remarkable growth, but also a testament to its pioneering spirit, resilience, and long-term vision. With slogan “Trust from heart” for all clients, PJICO will keep leading the journey in the Vietnamese non-life insurance industry./.

Kim Xuyen

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PJICO: 30 years of development

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