A New Era for PJICO: Introducing the Newly Appointed CEO

Petrolimex Joint Stock Insurance Corporation (PJICO, code: PGI, HoSE exchange) has just announced a resolution on the appointment of a new President.

Accordingly, PJICO approved the appointment of Mr. Tran Anh Tuan, Deputy General Director, as President for a term of 5 years from June 16, 2025.

Mr. Tran Anh Tuan, born in 1969, holds a Master’s degree in Business Administration and a Master’s degree in Finance and Banking Insurance. He joined the PJICO management team in June 2013.

Mr. Tran Anh Tuan becomes the President of PJICO after the position was vacant for 1 month following the Board of Directors’ dismissal of Ms. Nguyen Thi Huong Giang on May 15.

At the same time, the PJICO Board of Directors approved the appointment of Mr. Pham Thanh Hai, Chairman of the Board of Directors, as the legal representative replacing Ms. Nguyen Thi Huong Giang. The reason given was that Ms. Nguyen Thi Huong Giang no longer met the standards to hold the position of legal representative according to current regulations.

Ms. Nguyen Thi Huong Giang, born in 1975, holds a Master’s degree in Economics. She joined PJICO in July 1997 as a specialist in the Property and Technical Insurance Department, gradually taking on important roles such as Deputy Head of Reinsurance, Head of Property and Technical Insurance, and then Deputy General Director.

In March 2022, Ms. Nguyen Thi Huong Giang was appointed as the President of PJICO, succeeding Mr. Dao Nam Hai who later became the President of Petrolimex. In April 2022, she was also elected to the PJICO Board of Directors.

Along with the dismissal of Ms. Giang, the PGI Board of Directors also dismissed Deputy General Director Tran Hoai Nam, also effective from May 15.

In terms of business results, in the first quarter of 2025, PJICO recorded insurance revenue of VND 1,186 billion, up 3% over the same period. However, due to a 16% increase in reinsurance expenses, net revenue remained almost unchanged at VND 460 billion.

Thanks to a 10% decrease in compensation expenses, total insurance business expenses only increased slightly by 1%. As a result, gross profit from insurance reached VND 242 billion, down 2%.

Financial income decreased by 31% to VND 18 billion, but administrative expenses were reduced by 5%. Thus, after-tax profit for the first quarter reached VND 71 billion, up 4% over the same period.

In 2025, PJICO targets original insurance revenue of VND 4,400 billion, unchanged from 2024. Financial activity revenue is expected to reach VND 220 billion. Pre-tax profit is projected at VND 306 billion, up 5% year-on-year. PGI plans to pay a 12% cash dividend.