20/07/2021
PVI Re organizes a conference to review business activities in the first 6 months of 2021 and implement business plans for the last 6 months of 2021
On the morning of July 20, 2021, at PVI Tower, PVI Reinsurance Joint Stock Corporation (PVI Re) successfully held a conference to review business activities in the first 6 months of 2021 and implement the business plan for the last 6 months of 2021.
Participating in the meeting, PVI Re was honored to welcome the presence of Leaders from PVI Holdings, PVI Insurance Corporation and PVI AM. The meeting was chaired by Mr. Trinh Anh Tuan – CEO of PVI Re and Mr. Vu Van Thang – Chairman of PVI Re’s BOD.
Covid-19 pandemic has affected all economy sectors including insurance and reinsurance business activities globally. In that context, with the background of a diversified, flexible and effective business policy in the right direction and the efforts of the Board of Directors and all employees, PVI Re still achieved a lot of outstanding achievements. Specifically, total revenue in the first 6 months of 2021 was VND 1,135 billion, completed 128% of the plan and increased 12% over the same period. Profit before tax reached VND 81 billion, equivalent to 110% of the target. In which, profit from reinsurance business and profit from financial investment both over-achieved the target, reached VND 33 billion and 48 billion respectively.
In the last 6 months of 2021, PVI Re will continue to implement solutions to achieve the plan in terms of both revenue and profit. Planned revenue in 2021 is VND 1,769 billion and profit before tax is VND 170.2 billion, ensuring a 16% dividend payment for shareholders.
In particular, July 20, 2021 is also a milestone marking 10 years of PVI Re's presence in the market. After 10 years of growth and development, PVI Re has transformed from a one-member limited liability company in 2011 into a joint stock company listed on the stock exchange with total assets of VND 4,790 billion and a total reserve fund of nearly VND 3,000 billion. In 2019, A.M. Best has upgraded PVI Re's financial credit rating from B+ to B++, affirming its solid financial foundation as well as reflecting its maintained and developed business results. PVI Re is now in the process of preparing to increase its charter capital to VND 1,044 billion after getting approved by the 2021 Annual General Meeting of Shareholders.
The conference also awarded certificates of merit to the Divisions with excellent achievements in the first 6 months of 2021 and honored the staffs who have contributed to PVI Re since the very first day of its establishment.
Below are some pictures taken in the Conference:
Mr. Vu Van Thang – Chairman of the BOD and Mr. Trinh Anh Tuan presented awards to the Divisions which completed the plan for the first 6 months of 2021
Mr. Vu Van Thang – Chairman of the BOD and Mr. Trinh Anh Tuan awarded medals to employees who have been with PVI Re since the first day of its establishment