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

Petrolimex Joint Stock Insurance Company (PJICO)

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.

VND 3 trillion

Charter capital

VND 3.8 trillion

Shareholders’ equity

VND 34 trillion

Total assets

Vietnam National Petroleum Group - Petrolimex (PLX)

Committed to constantly making an effort to go further on the path of development and bring the lives of Vietnamese people and all Petrolimex employees to new heights in the future