Non-life insurers accelerate year-end push

Detailed summary

The non-life insurance market maintains robust growth, with leading insurers nearing or exceeding annual targets, although profitability and competitive pressures remain uneven across the sector.

PVI Insurance assumingly leads the industry in terms of progress towards its targets. According to information released on October 30, the company had exceeded both its full-year revenue and pre-tax profit targets, two months ahead of schedule.

Specifically, PVI's total revenue was estimated at $1.082 billion, equivalent to 100 per cent of its annual target. Notably, pre-tax profit was estimated at $62 million, representing 159 per cent of the target.

According to PVI, these results not only marked a milestone in terms of revenue scale but also reflected its business efficiency, management capabilities, and sustainable development amid ongoing market challenges.

According to the estimated business results report for the first 10 months of the year released by Bao Minh Insurance Corporation, as of October 26, total revenue was estimated at more than $282 million, up 17.1 per cent on-year and equivalent to 97.1 per cent of the target set by its Board of Directors.

Its individual business indicators were also approaching their targets. Gross direct insurance premium revenue was estimated at nearly $240.1 million, representing 98.8 per cent of the annual target and an increase of around 17.9 per cent on-year.

Meanwhile, total gross direct insurance and inward reinsurance premium revenue reached $269.9 million, equivalent to 97.5 per cent of the full-year target.

For 2026, Bao Minh has set a target of $290.4 million in total revenue and at least $13.6 million in pre-tax profit. At the current pace, the company is likely to achieve its revenue target before the end of the year.

Meanwhile, DBV Insurance Group has recorded strong premium revenue growth but still faces a considerable gap in meeting its profit target.

As of November 2, gross direct insurance premium revenue had reached $200.6 million, up 64 per cent on-year and representing more than 80 per cent of the annual target.

Opening of the article, excerpted from Vietnam Investment Review. To read the rest, open the article on the publisher's site.