Pvi – Petrovietnam Insurance Corporation

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Foreign trade university PVI – PetroVietnam Insurance Corporation INSURANCE AND RISK MANAGEMENT Group 6: Đinh Thị Thùy Linh Nguyễn Hồng Hạnh Nguyễn Minh Phương Nguyễn Hoàng Lan Nguyễn Hoài Thương Table of Contents Introduction 1 Overview of PVI 1 Internal factors 2 1. Marketing activities: 2 2. Human resources 5 3. Financial assessment 7 External factors 9 1. Economic and business environment 9 2. Political and legal environment 11 3. Natural environment 13 4. Social environment 13 5. Competition environment 14 Appendix 16 Reference 24 Introduction PetroVietnam Insurance Corporation (PVI), one of the members of Vietnam Oil & Gas Corporation currently known as the Vietnam National Oil & Gas Group (PetroVietnam), was established in 1996, with the headquarter is located in Hanoi. Despite the context of the harsh competition and volatile economic condition in Vietnam, PVI has developed itself by a significant lead into the forefront industrial insurance company in Vietnam having become the leader in key markets. It covers almost the entire energy market share, around 40% of property and engineering insurance market and about 30% of marine insurance market. PVI is also able to maintain the sustainable growth rate in comparison to other key competitors such as Bao Viet, Bao Minh and PJICO. Vietnam’s economic integration which brings more and more foreign competitors, along with the Asian financial crisis, has directly influenced PVI. By analyzing the internal as well as external environmental factors that affecting PVI’s business strategies, our purpose is providing particular features, which can be considered comparative advantages, distinguishing PVI among the abundant insurance market. We will do this study by applying SWOT analysis. Overview of PVI PetroVietnam Insurance Company which was
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