PTI receives First Class Labor Medal
Nguyễn Vũ Hải Hà,
PTI was honored to receive the First-Class Labor Medal recognizing its excellent performance and positive contribution in finance and insurance during the past 20 years.
On August 1, 2018, at the ceremony to celebrate the 20th anniversary of its founding held at the National Convention Center in Hanoi, Post and Telecommunication Insurance Joint Stock Corporation (PTI) was honored to receive the First-Class Labor Medal from the State leaders. This is the recognition of outstanding performance and positive contribution of PTI in finance and insurance during the past 20 years.
Over 20 years of building and development, PTI has continuously affirmed its position in the local insurance market, building a firm trust in the hearts of millions of customers nationwide.
From an enterprise with revenue of just over VND100 billion, thanks to its efforts and sound development strategy, PTI first hit the revenue target of VND1 trillion in 2011 which doubled to VND2 trillion in 2015. Two years later, the corporation’s total revenue exceeded VND3 trillion, accounting for an 8% market share in the Vietnam non-life insurance market. As of mid-July, PTI's revenue reached VND2.1 trillion, up 25% YoY. Maintaining this growth momentum, PTI’s revenue will hit VND4 trillion by the end of 2018. This is an incredible growth and breakthrough.
These impressive achievements help PTI maintain the third position in the non-life insurance market; rank second in motor vehicle insurance and first in online insurance in Vietnam. The corporation has also declared a dividend payout ratio of 12%, the highest level among local insurers.
The customer service network is also constantly expanded. PTI currently has 47 member units; more than 100 transaction offices; 400 surveyors; a direct billing system with more than 600 linked garages; nearly 2,000 employees, 10,800 post offices and nearly 13,000 distribution agents throughout the country. PTI is always committed to providing our clients with first-class services.
In addition to its business activities, PTI continuously carries out community-driven activities. With the expectation of bringing activeness to the community, PTI awarded insurance to 22,000 people in Ninh Binh, donated medical equipment to strengthen the capacity of clinical examination at the commune level, presented multi-purpose English classrooms to students of universities, teaching aids to schools in remote and deep-lying areas, etc. The total value of gifts presented in 2017 was more than VND5 billion.
PTI sets a revenue target of VND10 trillion, accounting for 10.5% of the total market share, continuing to maintain its position as the leading insurer in the market for its service quality by 2025. PTI also commits to make greater efforts for community-focused activities. In the short term, PTI will concentrate on implementing projects to raise awareness of vehicle owners, contributing to the mitigation of unfortunate consequences of traffic accidents.
PTI is honored with First-Class, Second-Class Labor Medals and quite a few recognized awards from State management agencies, including the Certificate of Merits from the Prime Minister, the National Brand, the Vietnam Gold Star Award - Top100 Vietnam’s brands, Top 500 largest enterprises in Vietnam. CEO Bui Xuan Thu was awarded the APEC 2017 Vietnamese Typical Businessman Award.