BIC Reports Business Performances in Six Months
BIDV Insurance Company (BIC) has announced its business results in the first six months of 2010. As of June 30, 2010, the company’s total assets valued at VND3,270.071 billion, up 175 % from the same period of 2009 and up 80 % from the start of 2010.
The revenues totalled VND346,146 billion in the six months, up 62 % year on year, of which premiums were VND238.512 billion, up 69 % from the January-June period in 2009.
BIC earned nearly VND30 billion from bancassurance sales from January to June, accounting for 14 % of the company’s total revenues, retaining its position as a top bancassurance firm in Vietnam.
Currently, BIC has also completed preparatory steps for an initial public offering, or IPO. The insurer expects to obtain approvals from the State Securities Commission (SSC) and the Hanoi Stock Exchange (HNX) to launch the IPO in the third quarter of 2010 as planned.
BIC will be transformed into a joint stock company in the fourth quarter and will be listed on the local stock exchange in early 2011.
L.A
Vietnamese
