The Board of Directors of Total JSC Insurance Petrolimex (PJICO Insurance) has approved the appointment of Mr. Tran Anh Tuan as the new General Director of the company, effective June 16th, for a five-year term. Mr. Tuan previously served as Deputy General Director and Information Disclosure Officer.
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Mr. Tran Anh Tuan, born in 1969, holds a Bachelor’s degree in Economics and a Master’s degree in Finance and Banking. He joined PJICO Insurance in 1995, the company’s founding year. During his almost three-decade-long tenure, he has held various management positions, including Deputy Head of Finance and Accounting and Head of Financial Investment. He officially joined the company’s executive board in June 2013.
The appointment follows the dismissal of former General Director, Ms. Nguyen Thi Huong Giang, and Deputy General Director, Mr. Tran Hoai Nam, effective May 15th. Chairman Pham Thanh Hai has been designated as the new legal representative, replacing Ms. Giang.
Both departed leaders were long-serving members of PJICO Insurance. Ms. Giang joined the company in 1997 as a technical property insurance specialist and later served as Head of Department and Deputy General Director. She was appointed General Director in March 2022, succeeding Mr. Dao Nam Hai, who was temporarily suspended by the Ministry of Finance from representing state capital in Petrolimex pending an inspection. In addition to her role at PJICO Insurance, Ms. Giang also served as a member of the Board of Directors of another company and as a member of the Members’ Council of the National Reinsurance Corporation of Vietnam (VNR).
Mr. Tran Hoai Nam also had a long association with PJICO Insurance, spanning almost three decades. He served as Head of Motor Vehicle Insurance for ten years before becoming Deputy General Director.
According to the audited financial statements for 2024, Chairman Pham Thanh Hai and former General Director Nguyen Thi Huong Giang were the two highest-paid executives at PJICO Insurance, earning over VND 2.7 billion and VND 2.4 billion, respectively, for the year.
As of the end of 2024, Vietnam’s non-life insurance market comprised 32 operating companies. PJICO Insurance held a 5.5% market share in terms of original insurance premium revenue, on par with MIC and BIC. The company’s strongest segment is motor vehicle insurance, with revenue of VND 1,641 billion in 2024, accounting for over 35% of total original insurance premiums.
In the first quarter of 2025, PJICO Insurance recorded over VND 890 billion in net revenue from insurance operations and a post-tax profit of VND 71 billion. Motor vehicle insurance revenue reached nearly VND 410 billion, comprising over 36.5% of the total.
For 2025, the company aims to maintain stable original insurance revenue at VND 4,400 billion, financial revenue of VND 220 billion, and a pre-tax profit of VND 306 billion, a 5% increase from the previous year. The expected dividend payout is 12% in cash.
In the stock market, PGI shares are currently trading around VND 20,900 per share, unchanged over the past month and down 11% in the last quarter. Liquidity remains low, at approximately 3,600 shares per session. Previously, PGI reached a peak of over VND 26,000 per share in mid-February 2025, the highest price since April 2022, before adjusting to the current level.
| PGI Share Price Movement in the Last Year |
By The Manh – June 13th, 2025
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