9 months completed 82% of the plan

Petrolimex Insurance Joint Stock Corporation (PJICO) has just held the 3rd meeting of the Board of Directors for the term of 2024 - 2029 to evaluate the results of the business plan implementation in the first 9 months of the year, key solutions for the fourth quarter of 2024, and at the same time orient the development of the 2025 plan.

According to PJICO, recently, the storm and the circulation after storm Yagi have caused severe damage to people and property in many northern provinces and cities, many customers of non-life insurance companies in general and PJICO in particular have been seriously affected. PJICO statistics recorded 954 customer losses related to storm and circulation after storm Yagi, estimated damage of hundreds of billions of VND.

With the total cost of customer compensation for the impact of Typhoon Yagi increasing sharply, many non-life insurance companies recorded a sharp decline in business results, even negative profits. In that context, thanks to steadfastly sticking to the direction of safe and effective business development, PJICO's business activities in the first 9 months of 2024 still achieved positive results with total revenue reaching 3,908 billion VND, completing 82% of the plan.

Of which, original insurance revenue reached 3,196 billion, completing 79.4% of the plan, growing nearly 11% over the same period in 2023. Pre-tax profit in the first 9 months of 2024 reached 242.6 billion VND, completing 84% of the plan of the General Meeting of Shareholders.

In addition to its business highlights, PJICO has also demonstrated its responsibility for social security by promoting positive contributions to the community. Since the beginning of the year, PJICO has donated more than VND 4.7 billion to charity and relief efforts for disadvantaged people. In particular, during the recent storm No. 3, in addition to promptly fulfilling its responsibility as an insurance company to its customers, PJICO also carried out a series of social security activities in localities heavily affected by storm Yagi such as: Quang Ninh, Hai Phong, Ha Nam, Yen Bai, Lao Cai, Bac Giang, Tuyen Quang, etc.

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PJICO implements a series of social security programs to join hands to support people to overcome the consequences of storm YAGI in September 2024. Photo: PJICO

Determined to complete the year plan

With positive signals and prospects for the last 3 months of the year, PJICO continues to adhere to the goals assigned by the Board of Directors since the beginning of the year, while controlling risks well, promoting online and intermediary sales channels, perfecting the multi-channel sales model, focusing on customers, creating a seamless experience for customers in the process of purchasing insurance products, compensation and customer care.

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PJICO continues to adhere to the strategic direction of safe - sustainable - effective development, at a faster pace based on the application of new digital initiatives and comprehensive transformation. Photo: PJICO

2025 is the year PJICO celebrates its 30th anniversary (1995-2025). PJICO's 30-year journey is not only a story of remarkable development but also a testament to its pioneering spirit, perseverance and long-term vision. Overcoming difficulties and challenges from the competitive non-life insurance market, PJICO has affirmed its position through a safe and effective development strategy, focusing on customers, prioritizing human resource development management, pioneering digital transformation and enhancing social responsibility.

With a solid financial foundation and clear strategic orientation, PJICO aims to continue to be the leading company in the non-life insurance industry, providing sustainable protection for millions of current and future customers.

The Dinh