PVIRe posts sterling performance in 1H2019

PVI Reinsurance Corporation (PVIRe) has shown growth of over 50%, in both revenue and profit for the first half of this year.

The reinsurer’s total revenue in the first six months reached VND1,104.2bn ($47.4m), an increase of 57% over the corresponding period last year and surpassing operating targets, reported Vietnam News.

Profit before tax in 1H2019 surged by 69.4% year on year to VND111.8bn. In particular, profit from reinsurance business amounted to over VND41.5bn. Investment gains reached VND70.3bn, 2.8 times higher than in 1H2018.

Mr Trinh Anh Tuan, general director of the company, said, “In addition to expanding business operations in the domestic and Southeast Asian markets, the company will continue to adjust its policy to better meet customer needs. In addition, governance and compliance control continue to be strengthened to better support business operations and ensure financial security.”

PVIRe plans to list on the Hanoi Stock Exchange this year.

Source: asiainsurancereview.com