Enhancing PJICO brand to become a prestigious non-life insurer of Vietnam with top service quality
Petrolimex Joint Stock Insurance Company (PJICO)
Established on June 15, 1995, PJICO is known as the first ever joint stock insurer in Vietnam; in which the Vietnam National Petroleum Group (Petrolimex) is a founding shareholder, playing a key role in and leading PJICO business activities. After 25 years, PJICO has expanded in terms of total assets, shareholders’ equity and business network nationwide. Currently, PJICO has total assets of VND6,230 billion ($270 million), and shareholder equity of VND1,502 billion ($65 million). The enterprise has developed 61 member units in all provinces and cities, creating a strong network of agents owned by organisations and individuals.
In 2018-2019 A.M. Best affirmed the Financial Strength Rating of B+ (Good); and the Long-Term Issuer Credit Rating of “BBB-” of PJICO, and the outlook of these Credit Ratings is stable. In 2020, PJICO continued to be recognised as one of Vietnam’s Top 10 prestigious non-life insurers by Vietnam Report.
In 2020 PJICO posted a total revenue of VND4,138 billion (nearly $180 million), up 13% compared to 2019. The company recorded the highest ever profits, with pre-tax profits reaching VND217 billion ($9.4 million), a growth of 8.5% over 2019.
- VND 1,502billion
Shareholders’ equity
- VND 6,230billion
Total PJICO assets
PJICO’s 25 years of development and achievement
Petrolimex Group Commercial Joint Stock Bank (PG Bank)
Formerly known as Dong Thap Muoi Rural Joint Stock Bank, PG Bank was established on November 13, 1993.
With Petrolimex as its strategic shareholder and constant companion for the past 15 years, PG Bank has witnessed strong growth and development: VND3 trillion ($130 million) worth of current charter capital, VND3.8 trillion ($165 million) of shareholders’ equity; VND34 trillion (approximately 1.5 billion) of total assets; 80 branches and transaction offices across the country; total workforce of 1,600-strong.
Charter capital
Shareholders’ equity
Total assets
