Bidv insurance firm reports achieving sharp increase in Bancassurance revenue

After the first five months of this year, Bidv Insurance Co (BIC) reported earning total revenue of 222.192 billion dong, increasing by 14 percent against the same period of 2009, in which the insurance premium surged by 63 percent to 156.264 billion dong and revenue from Bancassurance channel recorded the impressive growth of 19.08 billion dong, counting for 12.21 percent of the total insurance premiums. Last year, the revenue gained from Bancassurance channel only counted for 9.6 percent of the total premium.

The company also announced to reach total pre-tax profit in Jan-May of 29.475 billion dong.

BIC has launched new insurance products such as insurance for apartments and individual houses. The company has also launched online sales channel via ATM and transaction points of PayNet, VNPay, ViettelPost and CoopMart.

The company’s distribution network was expanded with the establishment of new nine transaction offices in Dong Anh, Ca Mau, Bac Giang, Buon Ma Thuot, Dak Nong, northern Dak Lak, east Dong Nai and two new offices in Hanoi.

Dau tu chung khoan

Tags: Bancassurance, BIDV Insurance Company, Vietnam insurance, Vietnam insurance industry, Vietnam insurance market

Posted by VBN on Jun 11 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