On January 8, within the framework of the announcement ceremony of the Top 500 Largest Enterprises in Vietnam (VNR500), OPES was honored for the first time in this prestigious list. This is an important milestone in the company's 6-year development journey, affirming OPES' pioneering position in the digital insurance model in the insurance industry.

With a lean workforce and a later appearance than the “veterans” in the industry, OPES has built a distinct development strategy by capturing market trends and prioritizing digital transformation in insurance. Thanks to the application of advanced technology in operations and products, after only 3 years of operation, the company has reached the milestone of 1,000 billion VND in original insurance premiums in 2021.

According to the 2023 Financial Report, OPES recorded original insurance revenue of more than VND 2,500 billion and pre-tax profit of more than VND 156 billion, an increase of nearly 140% compared to the previous year, strongly growing in non-life insurance market share in Vietnam. This growth demonstrates OPES' determination in its journey to become a pioneering and innovative digital insurer. In particular, after becoming a member company of the financial ecosystem of Vietnam Prosperity Joint Stock Commercial Bank (VPBank), OPES has taken advantage of resources and strong support from the parent bank, opening up greater development opportunities and increasing brand reputation.

Ms. Pham Thi Huong Giang - Director of Communications & Marketing of OPES shared: “OPES is honored to stand side by side with large Vietnamese enterprises in the VNR500 Ranking and is proud that the tireless efforts of the whole team have borne fruit and been recognized. This will be a launching pad to contribute to enhancing the position and reputation of Vietnamese enterprises in the domestic and international markets. OPES is committed to constantly creating and innovating to introduce optimal insurance products and solutions, helping to protect customers' interests, increase prestige with partners, in parallel with sustainable development and creating value for the community".

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Ms. Pham Thi Huong Giang - Director of Communications & Marketing of OPES, representative to receive the Top 500 Largest Enterprises in Vietnam Award in 2024. Photo: OPES

Before appearing at VNR500, OPES won a double at Insurance Awards 2024 including: "Auto Insurance Product Initiative of the Year" Award and was the first non-life insurance company in Vietnam to be named in the "Digital Insurer of the Year" category. In addition, the digital insurance company under VPBank was also honored in the "Top 10 Outstanding Enterprises in ASEAN" within the framework of the ASEAN Awards 2024 ceremony and in the "Top 500 Most Profitable Enterprises in Vietnam in 2024" (PROFIT500) announced by Vietnam Report.

VNR500 is a prestigious ranking for the largest enterprises in Vietnam, honoring large-scale representatives who maintain effective production and business activities. The ranking honors enterprises that make great contributions to the development of the Vietnamese economy and promote their brands to the domestic and international business community. 2024 is the 18th consecutive year that Vietnam Report has coordinated with VietNamNet Newspaper to publish the VNR500 Ranking.

To be included in this list, businesses need to meet the evaluation criteria according to the Fortune 500 model, based on the results of independent research and evaluation according to international standards of Vietnam Report, and published annually by VietNamNet newspaper.

After only 6 years of operation, OPES has achieved convincing growth indicators, surpassing strict criteria to become one of the 11 best insurance companies in the ranking.

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OPES affirms its pioneering position in the digitalization strategy of non-life insurance. Photo: OPES

With impressive results in recent times, OPES is on the rise and affirming its position in the insurance industry in Vietnam. According to the company representative, being in the Top 500 Largest Enterprises in Vietnam is a source of pride and motivation for OPES to aim to become a pioneering digital insurer and develop sustainably in the digital age.

Phuong Dung