HÀ NỘI — PVI Insurance Corporation has reinforced its international credibility by retaining an A– (Excellent) financial strength rating with a stable outlook for the fourth consecutive year, as reaffirmed by global credit rating agency AM Best. The achievement underscores not merely short-term growth, but a robust financial foundation, disciplined underwriting practices, and a risk management framework aligned with international standards.
According to AM Best’s latest assessment, PVI’s balance sheet strength remains “very strong”, supported by consistent operating performance, a well-diversified business portfolio, and prudent risk governance. Notably, in 2025, the company became the first non-life insurer in Việt Nam to surpass US$1 billion in total revenue—an important milestone that highlights both its domestic leadership and growing regional relevance.
Capital adequacy continues to be a cornerstone of PVI’s resilience. Measured by the Best’s Capital Adequacy Ratio (BCAR), the insurer maintains the highest rating level over the medium term, ensuring a solid buffer against market volatility and underwriting risks. Profitability has also remained steady, with a consistently strong return on equity (ROE) over several years, reflecting the firm’s capacity to generate sustainable earnings.
PVI has further consolidated its leadership in specialised industrial insurance segments, including energy, engineering, property, and marine. These sectors demand not only deep technical expertise but also substantial financial backing to underwrite complex, high-value risks. In this regard, strategic support from HDI V.a.G.—a major German shareholder of PVI Holdings—has enhanced governance standards, strengthened financial capacity, and broadened international market access.
Operationally, 2025 proved to be a year of strong execution. The company improved underwriting efficiency, tightened claims management, and expanded its reinsurance programmes, all of which contributed to higher-quality earnings and reinforced financial resilience. Such measures have provided a critical safeguard, enabling PVI to maintain its A– rating over multiple years—an accomplishment that remains challenging for many insurers across emerging markets.
Key Financial Highlights (2025)
| Indicator | Performance |
|---|---|
| Total Revenue | Exceeded US$1 billion |
| Pre-tax Profit | VNĐ1.066 trillion (approx. US$41 million) |
| Financial Strength Rating | A– (Excellent) |
| Outlook | Stable |
| BCAR | Highest level maintained |
Beyond financial metrics, PVI has also earned international recognition for excellence. In 2025, it became the first Vietnamese insurer to secure both “General Insurer of the Year” and “Underwriting Initiative of the Year” at the InsuranceAsia News Awards for Excellence 2025, signalling its growing prominence on the global stage.
Amid ongoing volatility in global insurance markets, maintaining a high credit rating over consecutive years is widely regarded as a key indicator of financial soundness and governance quality. For PVI, four successive A– ratings reflect sustained efforts to refine risk management practices, enhance operational efficiency, and pursue a long-term, sustainable growth strategy.
Looking ahead to 2026, the company aims to deepen investments in core capabilities, accelerate digital transformation initiatives, and expand its partnership ecosystem. Through these strategic priorities, PVI Insurance is positioning itself to achieve sustained growth while strengthening its footprint across both regional and international markets.