PJICO Insurance suddenly dismissed 2 big bosses: General Director and Deputy General Director

(NLDO) - PJICO simultaneously dismissed the General Director and Deputy General Director from May 15, 2025.

Petrolimex Insurance Corporation (PJICO) has just announced unusual information to the State Securities Commission and Ho Chi Minh City Stock Exchange regarding the Board of Directors' Resolution.

Ms. Nguyen Thi Huong Giang when she was still General Director of PJICO

Accordingly, the Board of Directors of PJICO dismissed Ms. Nguyen Thi Huong Giang from the position of General Director from May 15, 2025.

PJICO also removed Mr. Tran Hoai Nam from the position of Deputy General Director of Pjico from May 15, 2025.

Along with that, the Board of Directors of PJICO appointed Mr. Pham Thanh Hai, Chairman of the Board of Directors of PJICO as legal representative.

Both PJICO leaders dismissed this time were employees who had been with the company for nearly 30 years.

Ms. Giang joined PJICO in July 1997 as a specialist in the Technical Property Insurance Department, then gradually took on many important roles such as: Deputy Head of Reinsurance Department, Head of Technical Property Insurance Department, and then Deputy General Director.

In March 2022, Ms. Nguyen Thi Huong Giang was appointed General Director of PJICO, succeeding Mr. Dao Nam Hai.

Mr. Hai was recently suspended by the Ministry of Finance from his position as representative of state capital at the Vietnam National Petroleum Group (Petrolimex), representative of state capital, member of the Board of Directors, and General Director of Petrolimex until a conclusion is reached by the competent authority.

According to the Insurance Association of Vietnam (IAV), as of December 31, 2024, the revenue of 7 non-life insurance companies including: PVI, Bao Viet, VBI, MIC, BIC, PJICO, and VNI accounted for 60.7% of the market of the entire insurance industry in Vietnam.

Of which, PJICO (Stock code: PGI) accounts for 5.5% of the industry's market share in 2024 with insurance premium revenue reaching VND 4,394 billion, up 7.9% over the same period in 2023. Of which, original insurance premium reached nearly VND 4,397 billion, up over 9% over the same period. As a result, pre-tax profit is estimated at more than VND 291 billion, up nearly 3% over 2023.

Recently, PJICO announced its financial report for the first quarter of 2025 with poor business results when sales and profits were almost the same as the same period in 2024.

Specifically, net revenue from insurance business activities reached more than 894 billion VND, equal to the same period last year when it also reached 894 billion VND. Similarly, total expenditure for insurance business activities reached 652 billion VND, a slight increase compared to the same period of 647 billion VND.

PJICO's pre-tax profit in the first quarter reached nearly 90 billion VND, a slight increase compared to nearly 85 billion in the same period, a corresponding increase of nearly 6%.

Source: https://nld.com.vn/bao-hiem-pjico-dot-ngot-mien-nhiem-2-sep-lon-tong-giam-doc-va-pho-tong-giam-doc-196250517132534901.htm