Recently, at Vin Palace Co Loa Conference Center, Dong Anh, Hanoi, PVI held a 30-year anniversary ceremony (January 23, 1996 – January 23, 2026) with the theme "PVI - 30 years of Unlimited Pioneering".
The event is a particularly important milestone, marking the 3-decade journey of formation, development and strong rise of a typical Vietnamese insurance brand, associated with the development of the country's economy.
Originating from the mission of protecting national energy projects
Looking back 30 years ago, in the context of the early renovation years of the country, Oil and Gas Insurance Company - PVIC was born from the "fire" of Vietnam Oil and Gas Corporation (now Vietnam National Industry - Energy Group - Petrovietnam), with a modest but meaningful mission: "Ensuring safety for national oil and gas projects".
Starting a business with more than 30 employees, from a small office at 10 Dien Bien Phu (Hanoi) and an initial capital of 22 billion VND, PVIC has gradually affirmed its role in the oil and gas ecosystem, overcoming the harsh challenges of the market.
Bravery to overcome big waves - opening the door to international integration
In the early 2000s, in the context of a volatile international energy insurance market, PVI faced vital challenges. However, with a resilient strategy, reducing dependence on traditional consortiums, PVI successfully established a Direct Energy Reinsurance Contract with the International Market in London (UK).
2006 marked an important turning point when PVIC successfully equitized, officially named Vietnam Oil and Gas Insurance Corporation, with charter capital increasing to 500 billion VND. PVIC became a listed company with a new name PVI.
In 2010, PVI marked a historical milestone when it became the first and only Vietnamese insurance company to be rated B+ by the international credit rating organization AM Best. By 2011, the strategic cooperation between Petrovietnam and HDI Global SE (Federal Republic of Germany).
Thanks to this model, PVI has continuously broken through, being the first and only insurance company to be awarded the title of Labor Hero in the renovation period by the Party and the State.
In 2019, PVI marked a milestone in the transition of governance models. However, the Covid-19 pandemic has caused stagnation in the global economy, the Vietnamese economy and the insurance industry.
Scale - capacity - position after 30 years
After 30 years of formation and development, PVI has become a large-scale insurance - financial institution in the region. Entering the next stage of development, PVI identifies two consistent orientations: continuing to play the role of ensuring safety for key projects and key economic sectors of the country; proactively expanding development space, not only integrating but also being able to compete fairly in the international market,...
On that basis, PVI focuses on implementing 3 key actions including: sustainable development according to ESG standards with transparent governance and global standards; promoting the application of technology as a driving force for growth and long-term investment in people, considering this as the foundation for the strength and identity of the business.
Over the past 30 years, it has built a solid foundation for PVI. In the next stage, the enterprise continues to orient stable and sustainable development, in parallel with the development of the energy industry and the country's economy.
With the role of core enterprise, PVI Insurance is the first and only non-life insurance enterprise in Vietnam to reach the milestone of 1 billion USD in total revenue in 2025.
Also honored in many categories "General Insurer of the Year" and "Underwriting Initiative of the Year", Top 3 "General Insurance Company of the Year".
Notably, PVI Insurance is currently also the first and only insurance company in Vietnam to be rated A by the international credit rating organization AM Best.
