Petrolimex Insurance Corporation

What Petrolimex Insurance Corporation does

Petrolimex Insurance Corporation (PJICO) is a Vietnam-based, publicly listed non-life insurance company founded in 1995 (operating since 1999) and headquartered in Hanoi, with shares traded on the Ho Chi Minh Stock Exchange under ticker PGI. The company is strategically backed by state-owned shareholders including Petrolimex (Vietnam National Petroleum Group), Vietcombank, and Vietnam Steel Corporation, and operates through a nationwide network of over 40 branch offices spanning Northern, Central, and Southern Vietnam.

PJICO underwrites a diversified portfolio across six core insurance lines: vehicle, health, property and mixed, engineering, marine, and aviation insurance. Sub-branded products include Family Care (family health coverage up to 240 million VND per year across more than 200 hospitals) and Care Plus, an international health product built in partnership with AXA PPP International Healthcare offering worldwide direct billing and coverage up to 42 billion VND per person per year. The company also targets mandatory regulatory segments including fire/explosion and construction insurance under Vietnamese decree frameworks.

The company monetizes primarily through recurring non-life insurance premiums, generating 3,088 billion VND in total revenue and 215 billion VND in profit in H1 2026 (19.2% YoY growth, the highest H1 growth in nearly 10 years), with a 2026 full-year revenue target of 5,505 billion VND. Distribution combines traditional branch sales with a digital stack including the ipjico.vn portal, PJICO Caring mobile app for policy management and claims, and QR code-based insurance issuance integrated with Zalo, enabling self-serve purchase flows for vehicle and motorcycle insurance. Customer segments span individual consumers and corporate/enterprise clients across both domestic and (via Care Plus) international coverage use cases.

Name

Petrolimex Insurance Corporation

Legal name

Tổng Công ty cổ phần Bảo hiểm Petrolimex

Website

https://pjico.com.vn

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Petrolimex Insurance Corporation (PJICO) is a publicly listed Vietnamese non-life insurer offering vehicle, health, property, engineering, marine, and aviation insurance across more than 40 branches. It serves individual consumers and corporate clients via branch, mobile app, and QR code channels, backed by state-owned shareholders including Petrolimex and Vietcombank.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321)

akta.pro primary industry

Technology / IT Services BOP (FSAJAFAK)

akta.pro secondary industry

Group HMO Plans (FSAIAFAK)

Keywords

• Non-life insurance
• Motor vehicle insurance
• Health insurance products
• Property insurance
• Marine and aviation insurance

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Non-life Insurance Premiums: PJICO generates revenue primarily through insurance premiums across multiple non-life insurance categories including vehicle insurance, health insurance, property insurance, technical insurance, marine insurance, and aviation insurance.
2. Direct Insurance Premium Revenue: Gross insurance revenue of 2,623 billion VND in H1 2026, representing 18.6% growth year-over-year.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

PJICO is a Vietnam-based non-life insurance provider selling vehicle, health, property and mixed, engineering, marine, and aviation insurance products to individual consumers and corporate clients. The company distributes these products through a nationwide branch network, an online platform (ipjico.vn), a mobile app, and QR code-based digital issuance, with sub-branded offerings such as Family Care (family health) and Care Plus (international health in partnership with AXA PPP International Healthcare).

Product overview

PJICO operates as a multi-line insurance company offering a comprehensive portfolio of insurance products across six core categories: Vehicle Insurance (Xe cơ giới), Health Insurance (Sức khỏe), Property & Mixed Insurance (Tài sản & Hỗn hợp), Engineering Insurance (Kỹ thuật), Marine Insurance (Hàng hải), and Aviation Insurance (Hàng không). Within Health Insurance, PJICO offers sub-branded products including Family Care for family coverage and Care Plus for international health coverage. The company distributes products through a nationwide network of branch offices, digital channels including the PJICO Caring mobile app and QR code-based purchasing, and online platform ipjico.vn. Key strategic partnerships include AXA PPP International Healthcare for the Care Plus international health insurance product.

Differentiator

Problem solved

Functional benefit

Brands

• PJICO Caring: Ứng dụng di động cho phép tra cứu quyền lợi bảo hiểm, tìm cơ sở y tế, nộp hồ sơ bồi thường và theo dõi tiến độ
• Care Plus
• Family Care
• PJICO Phú Gia

Products and services

• Bảo hiểm Xe cơ giới (Vehicle Insurance) Motor vehicle insurance covering automobiles and motorcycles, providing financial protection for individual and corporate vehicle owners against accidents and related risks.
• Bảo hiểm Sức khỏe (Health Insurance) Health insurance covering risks related to accidents, illness, and maternity, including Family Care, Healthcare, and Care Plus international health insurance products for individuals and groups.
• Bảo hiểm Tài sản & Hỗn hợp (Property & Mixed Insurance) Property insurance covering fire, explosion, all-risk property, business interruption, and comprehensive home insurance products for individuals and businesses.
• Bảo hiểm Kỹ thuật (Engineering Insurance) Engineering insurance covering construction all-risk, installation all-risk, contractor's equipment, machinery breakdown, electronic equipment, and boiler insurance for construction and industrial clients.
• Bảo hiểm Hàng hải (Marine Insurance) Marine insurance covering hull, ship owner's liability, container, shipbuilder's risk, kidnap & ransom, crew accident, cargo, and freight forwarder's liability for shipping and logistics clients.
• Bảo hiểm Hàng không (Aviation Insurance) Aviation insurance covering aircraft hull and spare parts, aviation liability, and crew accident insurance for airlines and aviation operators.
• Family Care (Bảo hiểm sức khỏe gia đình) Family health insurance product covering inpatient and outpatient care at over 200 hospitals with coverage up to 240 million VND/year and a 30-day waiting period for common illnesses.
• Care Plus (Bảo hiểm chăm sóc sức khỏe quốc tế) International health insurance co-developed with AXA PPP International Healthcare, offering coverage up to 42 billion VND/year with worldwide direct billing, no sub-limit on hospitalization days, and coverage for congenital diseases, maternity, fertility treatment, HIV/AIDS, and emergency evacuation.

Quantifiable outcome

• 19.2% revenue growth in H1 2026 compared to same period last year
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

One partnership is on record.

• AXA PPP International HealthcarecoreStrategic or Co-development PartnerInternational partnership between PJICO and AXA PPP International Healthcare for the Care Plus international health insurance product. AXA PPP Healthcare has over 100 years of experience in individual health insurance, operates in over 80 countries with more than 10,000 healthcare providers globally. This partnership enables PJICO to offer international health insurance coverage with worldwide direct billing network.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Prudential Vietnam: One of the largest insurance providers in Vietnam with a broader life and health focus. Overlaps with PJICO in health insurance but operates a much wider portfolio including life and investment-linked products.

Direct peers

• BaoViet Holdings: Vietnam's largest and most established insurance group offering life and non-life products across vehicle, health, property, and marine lines. The most directly comparable competitor to PJICO across virtually all product categories.
• Bảo Long Insurance: Vietnamese non-life insurer providing vehicle, property, health, and engineering insurance. Comparable in scale and regional focus to PJICO with overlapping target customer segments.
• Liberty Insurance Vietnam: Foreign-affiliated non-life insurer offering vehicle, health, property, and personal accident products in Vietnam. Direct competitor in digital distribution and consumer-facing insurance products.
• Fubon Insurance Vietnam: Taiwanese-affiliated non-life insurer offering motor, fire, marine, and engineering insurance in Vietnam. Comparable scale and product mix, competing for both consumer and SME customers.
• PVI Insurance: State-owned non-life insurer backed by Petrovietnam, similar in scale and product mix to PJICO (vehicle, property, energy, engineering). Direct competitor with comparable institutional shareholder structure and enterprise customer base.
• Samsung Vina Insurance: Korean-affiliated non-life insurer in Vietnam focused on motor and consumer insurance products. Competes with PJICO in the digital and consumer segments of the Vietnamese market.
• Bảo Minh Insurance Corporation: One of Vietnam's longest-standing non-life insurers offering vehicle, health, property, and marine products. Competes with PJICO in both consumer and corporate channels across all three regions of Vietnam.
• AXA Insurance Vietnam: International insurance group with Vietnamese general insurance operations offering motor, health, property, and commercial lines. Notably also PJICO's strategic partner for Care Plus — both collaborator and competitor in the same market.
• PTI (Post & Telecommunication Insurance): Vietnamese non-life insurer offering vehicle, health, property, and cargo insurance. Similar mid-tier scale and product breadth to PJICO, directly competing in motor and health segments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/pjico-insurance-corp

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Petrolimex Insurance Corporation