Reinsurer targets 295b dong profit in 2011

Vietnam National Reinsurance Corp (Vinare-VNR) has recently announced this year business targets and plan of issuing more shares to hike chartered capital.

In details, this year, the insurer targets to gain 450 billion dong premium, profit from other business and investment operations at 260 billion dong, pre tax profit at 295 billion dong, rising 27 billion dong year-on-year.

Vinare also plans to pay 15 percent dividend, lower than the figure 18 percent in 2010.

In Q2 2011, VNR plans to offer 33.6 million bonus shares to the existing shareholders at the ratio of 2:1. After the share issuance, the insurer’s chartered capital is expected to be raised to 1.008 trillion dong.

Tags: Vietnam National Reinsurance Corp

Posted by VBN on Mar 25 2011. 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