The Petrolimex Joint Stock Insurance Company PJICO marks its 15th founding anniversary and receives the Labour Order, Second Class in Hanoi on Nov. 26.

Fifteen years ago, PJICO was Vietnam’s first insurance joint stock company with Petrolimex being the largest shareholder. Over the past 15 years, the company’s leadership and staff have overcome difficulties and challenges and reaped success in business, ensuring livelihoods for staff as well as contributing to the State budget and implementing many charitable activities worth billions of VND.

The company posts revenue of over 1.8 trillion VND in 2010, a more than 100-fold increase compared with 14 billion VND in 1995. PJICO now has 1,300 staff and more than 3,000 insurance agents with 51 branches and hundreds of insurance offices serving clients nationwide. The company has generated an average yearly growth rate of 38 percent during the past 15 years, higher than the average growth of the Vietnam non-life insurance market at the same period.

The State President decided to honour the company with a Labour Order, Second Class in recognition of its achievements. This is an encouragement for the company to diversify its insurance products to meet the demands of individuals and organizations, develop products in cooperation with Petrolimex’s affiliates to take advantage of the sector, implement more business lines, including car recovery and maintenance service, re-insurance, diversify financial investment forms and implement financial services within the legal framework.

T.H