PVI Insurance’s internal strength sustains A– global rating for fourth year

PVI Insurance Corporation has reinforced its position in the international insurance market after securing an A– (Excellent) financial strength rating with a stable outlook for the fourth consecutive year. The rating was reaffirmed by global agency AM Best, highlighting not only the company’s recent growth but also the durability of its financial structure and risk management framework.

According to AM Best’s latest assessment, PVI Insurance continues to demonstrate a very strong balance sheet. The company’s capital adequacy remains robust, supported by consistent operating performance, a diversified business portfolio, and disciplined underwriting practices. Analysts noted that the firm’s risk management system aligns closely with international standards, allowing it to maintain stability even amid volatility in the global insurance sector.

One of the most significant milestones came in 2025, when PVI Insurance became the first non-life insurer in Vietnam to exceed US$1 billion in total revenue. This achievement not only strengthened its leadership in the domestic market but also marked an important step in positioning the company as a serious regional player. Profitability has also remained stable over several years, with a strong average return on equity reflecting the company’s ability to generate sustainable earnings.

Capital strength has been another key factor behind the continued A– rating. AM Best confirmed that the firm’s Best’s Capital Adequacy Ratio (BCAR) remains at the highest level over the medium term. This provides a solid financial cushion for future expansion, particularly in sectors that require high technical expertise and significant underwriting capacity.

PVI Insurance has continued to strengthen its leadership in major industrial insurance segments such as energy, engineering, property and marine insurance. These sectors involve complex and high-value risks, and the company’s ability to maintain a dominant position demonstrates both technical competence and strong financial backing. Strategic support from HDI V.a.G., a major shareholder of PVI Holdings, has also played a crucial role in enhancing governance standards, financial stability and international partnerships.

In addition to maintaining its international rating, the company recorded solid financial results in 2025. It focused on improving underwriting efficiency, controlling claims costs and expanding reinsurance activities, all of which contributed to stronger profit quality and resilience. The company reported a pre-tax profit of approximately VNĐ1.066 trillion (around US$41 million), reflecting stable operational performance despite global market uncertainties.

PVI Insurance also received international recognition at the InsuranceAsia News Awards for Excellence 2025, where it became the first Vietnamese insurer to win both “General Insurer of the Year” and “Underwriting Initiative of the Year” in the same year. These awards further reinforced the company’s growing reputation beyond its home market.

The following table summarises the company’s recent financial and operational performance:

Maintaining a high international credit rating for four consecutive years is widely regarded as a strong indicator of financial stability and sound governance. For PVI Insurance, this achievement reflects sustained efforts to strengthen risk management, improve operational efficiency and pursue a long-term development strategy.

Looking ahead to 2026, the company plans to invest further in its core capabilities, accelerate digital transformation and expand its network of international partners. These initiatives are expected to support sustainable growth while enhancing its presence across regional and global insurance markets.