Insurance provider gains Jan-July profit of 38b dong

At the end of July, BIDV Insurance Co (BIC) reported gaining accumulative revenue of 413.95 billion dong, increasing by 54 percent against the same period of last year; and pre-tax profit of 38.24 billion dong, up 59 percent year-on-year.

In details, the company reported gaining revenue from insurance premium of 274.64 billion dong, up 62 percent over last year and profit from this business activity of 5 billion dong.

Up to late July, BIC’s total asset value was estimated at 3.533 trillion dong, surging by 195 percent in comparison with that of December 31, 2009, and up 176 percent year-on-year. The ownership capital was posted at 548.27 billion dong, up 18 percent against the same period of last year, and standby fund of 203.61 billion dong, an year-on-year increase of 39 percent.

On August 5, Hanoi Stock Exchange (HNX) held the session to auction BIC shares with the average share price of 11,225 dong per share. At present, the company was preparing for organising the first shareholders meeting in early Sep 2010, and making auditing and capitalisation to transform into a joint stock company from October 1, 2010 and officially list shares in Q1 of 2011. – Vietstock

Tags: Bidv Insurance, Vietnam insurance, Vietnam insurance industry, Vietnam insurance market

Posted by VBN on Aug 20 2010. Filed under Insurance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry