16:09 (GMT +7) - Wednesday 19/12/2018

Banking & Finance

PTI aims to achieve sales of $171.8 million by the end of 2018

Released at: 17:36, 02/08/2018

PTI aims to achieve sales of $171.8 million by the end of 2018

Photo: PTI

At its 20th anniversary, PTI said that by mid-July, its revenue was VND2.1 trillion ($90.2 million).

by Van Dao

The Post and Telecommunication Joint Stock Insurance Corporation (PTI) aims to achieve sales of VND4 trillion ($171.8 million) by the end of 2018 in order to reach VND10 trillion ($429.5 million) by 2025, which would account for 10.5 percent of the non-life insurance market in Vietnam.

At its 20th anniversary, PTI said that by mid-July, its revenue was VND2.1 trillion ($90.2 million), up 25 per cent year-on-year.

PTI's revenue has been continuously increasing over the years. In 2011, PTI reached VND1 trillion ($42.9 million) in revenue for the first time and then doubled to VND2 trillion ($85.9 million) in 2015.

In 2017, PTI achieved revenue of VND3 trillion ($128.9 million) which accounts for 8 per cent of the market share and ranks them third in the non-life insurance market in Vietnam. PTI is currently the number two market for motor vehicle insurance and the leader in online insurance.

At the event, PTI was awarded the Labor Medal by the State for their performance and contributions in the insurance finance sector.

PTI has 47 member units, more than 100 transaction offices, 400 assessors, payment guarantee on 600 linked garages, 10,800 post offices, and nearly 13,000 distribution agents nationwide.

PTI was founded on August 1, 1998, and has three major shareholders, namely South Korea-based Dongbu Insurance Co., Ltd. (37.32 per cent), Vietnam Post Corporation (22 per cent), and VNDIRECT Securities Corporation (22 per cent).

PTI offers customers a wide range of practical and superior products and services.

They provide both individual and institutional customers with over 100 insurance products grouped in four main product categories namely Motor Vehicle Insurance, Personal Insurance, Property & Engineering Insurance, and Marine Insurance.

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