This event marks a significant milestone in BIC's 20-year journey of formation, development, and integration into the Vietnamese non-life insurance market.
Attending the ceremony, on behalf of BIDV were Mr. Phan Duc Tu - Secretary of the Party Committee, Chairman of the Board of Directors; Mr. Le Ngoc Lam - Deputy Secretary of the Party Committee, Member of the Board of Directors, General Director, along with the Board of Directors and leaders of various units. On behalf of strategic shareholder FairFax was Mr. Gobinath Arvind Athappan - Chairman of FairFax Asia, Vice Chairman of the Board of Directors of BIC. On behalf of BIC were Mr. Tran Hoai An - Secretary of the Party Committee, Chairman of the Board of Directors; Ms. Doan Thi Thu Huyen - Deputy Secretary of the Party Committee, Member of the Board of Directors, General Director, along with the Board of Directors and leaders of various units.
BIC launches new brand identity. Photo: BIDV.
Speaking at the ceremony, Ms. Doan Thi Thu Huyen, General Director of BIC, stated: After two decades of operation, BIC has achieved significant growth in many aspects. Charter capital has increased 20 times, total assets have increased more than 80 times, equity has increased 44 times, and technical reserves have increased more than 100 times compared to the time of establishment. Insurance premium revenue has increased nearly 100 times, helping BIC maintain its position in the Top 5 leading non-life insurance companies in terms of market share. Pre-tax profit has grown continuously, placing BIC in the Top 3 non-life insurance companies with the highest profitability ratio in the market. BIC has also expanded its network to 38 member units and more than 230 sales offices nationwide, while operating effectively in Laos and Cambodia. BIC is currently rated aaa.VN by AM Best, the highest credit rating in Vietnam.
Representatives from various units participate in the ceremony to launch BIC's new brand identity. Photo: BIDV .
Representing the parent bank, Mr. Le Ngoc Lam - General Director of BIDV, acknowledged BIC's significant contributions to BIDV's financial, banking, and insurance ecosystem. BIC has delivered stable financial performance, maintaining high dividend payouts for many years, thereby creating substantial value for BIDV as its largest shareholder. Furthermore, BIC's bancassurance operations have become a crucial component of BIDV's service revenue structure, contributing positively to diversifying revenue sources and enhancing the bank's competitiveness. BIC's insurance products also play an essential role in BIDV's risk management, particularly in protecting loans, collateral, and operational activities. In addition, BIC's achievements in digital transformation, corporate governance, and regional integration have contributed to enhancing BIDV's reputation and image in the financial market.
With a vision extending to 2030, BIDV's leadership expects BIC to continue playing a crucial role as a pillar within the BIDV ecosystem, expanding its scale, enhancing its competitiveness, and aiming to become one of the top 3 non-life insurance companies in terms of market share.
BIDV's leadership congratulates BIC on the launch of its new brand identity. Photo: BIDV.
Following the directives of the General Director of BIDV, BIC Chairman Tran Hoai An shared that the launch of the new brand identity is a strategic step for BIC to enhance its competitiveness and better meet market demands.
The new brand identity is built on a spirit of innovation, aspiration for excellence, and a commitment to delivering better value to customers, partners, and shareholders. Brand change is not just about changing the image, but a comprehensive transformation from mindset and customer approach to operational methods, aiming for sustainable development and deeper integration.
In the coming period, BIC aims to continue innovating its products, enhancing technology application, improving service quality, expanding operations in the regional market, and developing a high-quality workforce. These factors are expected to help BIC consolidate its position in the non-life insurance market and contribute more positively to the BIDV ecosystem.
BIDV's leadership presented BIC with the eight golden words "Peace of Mind, Sustainable Development" on the occasion of the launch of its new brand identity.
The launch of the new brand identity marks the beginning of BIC's next phase of development, with a clear direction, consistent strategy, and strong support from BIDV and Fairfax. Building on the foundation established over the past 20 years, BIC aims to continue its breakthrough, enhance its competitiveness, and affirm its position as one of the leading non-life insurance companies in Vietnam.
BIC's new brand identity is built upon the iBIC value system, comprising Innovation, Beyond, Insightful Caring, and Certainty. These four values are considered BIC's "brand DNA" in this new phase of development, serving as the foundation for all activities, a guiding principle for strategic thinking, and a direction for innovation in the digital age.
Following the principle of "Heaven is round – Earth is square," BIC's new logo is developed from the values of its parent bank, BIDV, through a stylized circle representing a golden apricot blossom and a square block simulating four protective arms – symbolizing security, connection, and the 20-year history of the BIC brand. These elements are designed in a minimalist, modern style, increasing applicability on digital platforms and aligning with international design trends.
The new brand identity will be rolled out uniformly across the entire BIC system starting January 1, 2026.
Source: https://nongnghiepmoitruong.vn/bic-doi-moi-nhan-dien-thuong-hieu-khang-dinh-tam-voc-sau-20-nam-vung-buoc-d794291.html
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