Reinsurer targets 295b dong pre tax profit in 2011

Vietnam National Reinsurance Joint Stock Co (Vinare-VNR) has recently announced this year’s business target with 1.32 trillion dong of premium from reinsurance contracts, pre tax profit at 295 billion dong and dividend payment at 15 percent (basing on the new chartered capital).

In 2010, VNR reached 268.55 billion of pre tax profit, up 9.63 percent against the year’s plan and up 15.36 percent from 2009′s.

At the annual shareholders’ meeting 2011, VNR will submit the plan to issue bonus shares at the ratio of 2:1 to hike its chartered capital from 672 billion dong to more than 1.008 trillion dong. The share issuance is scheduled in Q2 2011.

Tags: Vietnam National Reinsurance Corp

Posted by VBN on Apr 12 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