Over the past year, the economic situation has changed a lot due to the pandemic, which has affected non-life insurance revenue, but many businesses still achieved high profits.
Although the pandemic continues to be complicated, insurance companies are still confident in the development strategy. (Photo: VNA)
Hanoi (VNS/VNA) - Over the past year, the economic situation has changed a lot due to the pandemic, which has affected non-life insurancerevenue, but many businesses still achieved high profits.
PVI Insurance Corporation said that its pre-tax profit reached 790billion VND (34.3 million USD) last year, exceeding 22.4 percent of its plan.
The new year begins in the context of the "newnormal", and although the pandemic continues to be complicated, insurancecompanies are still confident in the set development strategy.
“In 2021, we spent a lot of time expanding our business whilestrengthening our internal infrastructure in line with our profitable growthbusiness strategy. During the past year, all employees of the company haveeffectively pursued both directions together. Entering 2022, we will focus onstrengthening the internal resources of the supporting departments at the headoffice,” said a representative of Post and Telecommunication Joint StockInsurance Corporation (PTI) to Dau tu chung khoan (Securities Investment)online newspaper.
Similarly, PVI has set a sustainable growth target withdouble-digit revenue growth, while maintaining the leading position in thefield of commercial and industrial insurance in the domestic market, andgradually reaching out to the Southeast Asian market.
The company is also confident of completing its target this yearand becoming a high-ranking international insurer in Southeast Asia.
A quick report of non-life insurance businesses shows that thissector only grew 1.7 percent in revenue last year compared to 2020, a recordlow growth compared to previous years.
Declining revenue growth is expected by businesses, because therevenue of the two main business lines, which are personal insurance and motorvehicle insurance, has continuously decreased, even recording negative growthfor many months.
The revenue growth rate dropped sharply, but some businessessaid that last year was not a year of great fluctuations, because the non-lifeinsurance market in Vietnam was always changing and the competition was gettingfiercer.
Although there are different views and assessments about themarket's recovery, businesses believe that the non-life insurance market willcontinue to grow./.
The Vietnam Report Joint Stock Company on July 9 announced Vietnam's top 10 prestigious life and non-life insurance companies in Vietnam in 2021 as well as assessments on the Vietnamese insurance market.
The country’s total insurance premium revenue in 2022 is estimated at 253.7 trillion VND (111.1 million USD), up 18.04 percent compared to 2021, according to the Department of the Insurance Supervisory Authority.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Although the pandemic continues to be complicated, insurance companies are still confident in the development strategy. (Photo: VNA) 
