BIDV Insurance sees 14% growth in profits

BIDV Insurance Company posted a pre-tax profit of VND29.4 billion (US$1.5 million) in the first five months of this year and total assets of VND3.7 trillion ($194.7 million). Meanwhile, the company earned a premium of VND222.2 billion ($11.6 million), up 14 per cent over the corresponding period last year.

This year, it projected a premium growth of 35 per cent and a profit of VND75 billion ($4 million). The company plans to make an initial public offering in the third quarter.

BIDV Insurance Company, with a charter capital of VND500 billion ($26.3 million), is a subsidiary of the Bank for Investment and Development of Viet Nam. — VNS

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

Posted by VBN on Jun 22 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