PetroVietnam insurance offshoot gains 296.5b dong after tax profit in 2010

PetroVietnam Insurance Joint Stock Corp (PVI) has recently announced the business results in Q4 2010 with 622 billion dong of premium from original insurance contracts, up 4 percent against Q4 2009.

Also, in Q4, 2010, the insurer’s net revenue from insurance sector reached 360.5 billion dong, increasing 19.3 billion dong or 6 percent year-on-year.

PVI’s pre-tax profit was 89.5 billion dong, of which, net profit from insurance segment was 16.9 billion dong and 106.2 billion dong from financial operations.

The company’s after tax profit was 79 billion dong, increasing 30.4 billion dong or 63 percent over Q4, 2009.

Totally for the full year, PVI gained 3.512 trillion dong of premium from original insurance contracts, up 742 billion dong (27 percent) year-on-year.

The company’s income from reinsurance sector gained 316 billion dong, rising 59 percent y-o-y.

PVI’s net revenue from insurance sector was 1.668 trillion dong, a year-on-year rise of 406 billion dong or 32 percent.

The pre-tax profit was 336 billion dong including 37.4 billion dong from insurance sector and 298 billion dong from financial operations.

In 2010, its after tax profit was 296.5 billion dong, increasing 98.1 billion dong or 49 percent compared to 2009′s. – Vietbiz24

Tags: PetroVietnam Insurance