ABIC concentrates on developing Bancassurance

Agribank Insurance Joint Stock Co (ABIC) reported issuing 4,241 certificates for its insurance agents in 2009, in which 4,081 agents were under the network of Vietnam Bank for Agriculture and Rural Development (Agribank) and the rest 160 agents of outsiders. There were 120 general agents to get the licences, in which 108 general agents were branches under Agribank’s network. The total revenue gained from the agent system in 2009 was estimated at 175 billion dong, counting for 65 percent of total revenue, in which the revenue contributed from Agribank’s network, was 64 billion dong.

Nguyen Van Minh, ABIC’s chair of management board said the company would continue focusing on bancassurance network development, and completing all the mechanism to operate the new distribution channel. In 2010, the company targeted to reach at least 20 percent of year-on year increase in sales revenue and dividend payment of 5 percent at minimum.

Dau tu chung khoan

Tags: Agribank Insurance, Bancassurance, Vietnam insurance, Vietnam insurance industry, Vietnam insurance market

Posted by VBN on Jun 14 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