At a press conference on July 7 summarizing police work in the first six months of 2025, Senior Lieutenant Colonel Vu Thanh Tung, Deputy Director of the Police Department for Investigation of Corruption, Economic, and Smuggling Crimes (C03, Ministry of Public Security), announced the indictment and detention of Hai and Giang for investigation of bribery under Article 354 of the Penal Code.
C03 also indicted and detained Tran Hoai Nam, PJICO's Deputy General Director; Dang Quang Dung, PJICO's Deputy Director in charge of the Motor Vehicle Appraisal and Compensation Department; and Dinh Quoc Thinh, Deputy Director of the Motor Vehicle Appraisal and Compensation Department. Four other individuals, all appraisers in the Motor Vehicle Appraisal and Compensation Department, face the same charges.
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Dao Nam Hai. Photo: Petrolimex |
Dao Nam Hai. Photo: Petrolimex
51-year-old Hai holds a master's degree in Economic Law and Business Administration. He has worked at PJICO for over 24 years in various roles. Since 3/2013, he has served as PJICO's Party Secretary, Member of the Board of Directors, and CEO.
From 10/2017 to 8/2020, he concurrently held several positions at Petrolimex, including Deputy General Director and Member of the Standing Committee of the Party Committee. In 3/2022, he left PJICO and served solely as CEO of Petrolimex, concurrently a member of the group's Board of Directors. In 6/2025, Hai was dismissed as Petrolimex CEO and suspended from the Board of Directors.
50-year-old Giang has been with PJICO for nearly 28 years, including over three years as the company's top executive. She was dismissed as CEO in 5/2025.
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Nguyen Thi Huong Giang during her tenure. Photo: PJICO |
Nguyen Thi Huong Giang during her tenure. Photo: PJICO
The investigation began on the morning of 6/5 when dozens of economic and mobile police officers from the Ministry of Public Security simultaneously raided the headquarters of Petrolimex Insurance Corporation on the 21st and 22nd floors of the Mipec Building at 229 Tay Son Street, Dong Da District, Hanoi.
Simultaneously, police inspected PJICO Saigon's office on Dien Bien Phu Street, District 3, and another office in Binh Thanh District. Individuals involved in the case were placed under strict surveillance.
In the following days, the task force also searched the offices of two automakers in Ho Chi Minh City.
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Local security forces maintain order outside a PJICO office during the police raid on the morning of 6/5. Photo: Quoc Thang |
Local security forces maintain order outside a PJICO office during the police raid on the morning of 6/5. Photo: Quoc Thang
PJICO is a major player in Vietnam's non-life insurance sector. The company has a charter capital of 1,109 billion VND, owner's equity of 1,907 billion VND, and total assets of 8,425 billion VND.
PJICO's current products include motor vehicle, health, property and casualty, engineering, aviation, and marine insurance. Motor vehicle insurance is the company's core business and largest revenue contributor.
