PVIRe held the preliminary Conference for the first 6 months and business plan implementation for the last 6 months of 2020

On July 17, 2020, at PVI Tower, PVI Reinsurance Joint Stock Corporation (PVIRe) successfully held the preliminary Conference for the first 6 months and business plan implementation for the last 6 months of 2020.

The conference was hosted by Mr. Nguyen Anh Tuan – Chairman and Mr. Trinh Anh Tuan – Chief Executive Officer of PVIRe.

In the first 6 months 2020, the Covid-19 epidemic has caused insurance companies around the world to suffer heavy losses. In general, the global reinsurance market had not been constrained in capital for recent renewal seasons. Because of the unspecified losses caused by the COVID-19 pandemic, the global reinsurance market has become more cautious.

In Vietnam, the Covid-19 epidemic has affected all sectors of the economy including insurance and reinsurance activities. However, insurance business has not been affected directly and immediately. In Vietnam, the insurance business revenue for the first 6 months has maintained a relatively stable increase.

For the first 6 months of 2020, PVIRe has achieved the main business targets: Total revenue reached VND 1010.3 billion, equivalent to 114.8 % of the planned target; Profit before tax reached VND 92.3 billion, achieving 133.9% of the planned target. Profit from reinsurance activities was VND 45.3 billion, equivalent to 162.6% of the planned target and Profit from financial activities reached VND 47.1 billion, equivalent to 114.4% of the planned target.

At the end of June 2020, PVIRe successfully organized PVIRe Client Appreciation 2020 for domestic insurance / reinsurance business partners.

Aside from the achievements in business and market development, PVIRe has been continuing to further improve its human resource management, training, renovate internal systems and thoroughly renew the information technology system.

On the other hand, at the conference, all the weaknesses were candidly brought up in order to address and find suitable solutions. Ms. Tran Thu Ha – Director of Strategy and Investment Division at PVI Holdings also delivered a speech at the conference. On behalf of the Board of Directors, Chairman acknowledged the efforts of PVIRe's staff and congratulated PVIRe on exceeding the business planned targets for the first 6 months of 2020. He also discussed the important missions of PVIRe in the remaining 6 months of 2020.