PVI Insurance maintains A- rating for fourth straight year

PVI Insurance, a leading non-life insurer in Vietnam, has retained its A- (Excellent) financial strength rating with a stable outlook from AM Best for a fourth consecutive year, underscoring its strong financial position and risk management standards.

The rating reflects not only short-term growth but also a strong capital base and internationally aligned risk governance, AM Best said, describing the insurer’s balance sheet strength as “very strong”, alongside stable operating performance and a sound risk management strategy.

In 2025, PVI Insurance became the first non-life insurer in Vietnam to surpass $1 billion in revenue, marking a key milestone in the domestic market.

The company’s capital adequacy, measured by Best’s Capital Adequacy Ratio (BCAR), is expected to remain at the highest level over the medium term, supporting long-term growth. Profitability has also remained robust, with consistently high returns on equity over several years.

PVI Insurance continues to hold a leading market position, particularly in core industrial insurance segments such as energy, engineering, property and marine - areas that require strong financial capacity and technical expertise.

The rating also factors in support from Germany-based HDI V.a.G., a major shareholder of PVI Holdings, enhancing financial strength, governance standards, and international connectivity, particularly in large-risk underwriting.

Stable growth supports rating

Alongside maintaining its international rating, PVI Insurance reported solid growth in 2025, with key business indicators remaining at high levels.

The company has focused on improving underwriting efficiency, controlling claims, and expanding reinsurance activities, strengthening earnings quality and financial resilience.

These factors have helped sustain the A- rating over multiple years — a notable achievement in a volatile global insurance market.

Maintaining a high international credit rating is widely seen as a key indicator of financial health and governance quality, especially amid heightened global uncertainty.

For PVI Insurance, four consecutive years at A- reflect sustained efforts to optimize risk management and operational efficiency, reinforcing a long-term, sustainable growth strategy.

The company is now moving to further strengthen core capabilities, accelerate digital transformation, and expand partnerships as it targets continued growth in both domestic and international markets.

In 2025, PVI Insurance reported pre-tax profit of 1.066 trillion dong ($40.45 million). Internationally, it was named “General Insurer of the Year” and “Underwriting Initiative of the Year” at the InsuranceAsia News Awards for Excellence 2025, becoming the first Vietnamese representative to win both categories.

With its outstanding achievements, PVI Insurance enters 2026 with a proactive mindset, continuing to invest in core competencies, accelerating digital transformation, expanding its collaborative ecosystem, and aiming for sustainable growth, thereby affirming its increasingly prominent position in the regional and international markets.