BIC will make a strong breakthrough at the age of 20!

This is both a task and a commitment of the leadership, staff, and employees of BIDV Insurance Corporation (BIC) as they summarize their 2024 activities and implement their 2025 business plan. The entire system aims for strong revenue growth and to continue affirming its position among the top 3 non-life insurance companies with the highest profitability in the market...

According to data from the General Statistics Office, in 2024, non-life insurance premium revenue across the entire market grew positively by 10.2%, reaching approximately VND 78,300 billion. However, the industry also faced many challenges such as Typhoon Yagi causing severe damage, low disbursement rates of public investment capital, and requirements and amendments from the Law on Insurance Business and the Law on Credit Institutions... In this context, through efforts and proactive, innovative business solutions, BIC still achieved positive results last year.

Reporting to the Conference on business results for 2024, Board Member and General Director of BIC, Tran Hoai An, stated that the parent company BIC's total insurance premium revenue last year reached nearly VND 5,100 billion, an increase of approximately 10% compared to the previous year, essentially fulfilling the 2024 plan. Of this, gross premium revenue reached nearly VND 5,000 billion, an increase of approximately 10% compared to 2024, helping BIC rise to the 5th position in terms of gross premium revenue market share.

BIC General Director Tran Hoai An delivered a speech.

BIC's performance indicators in 2024 showed impressive breakthroughs. Total consolidated pre-tax profit reached over VND 650 billion, exceeding the 2024 profit target. Of this, pre-tax profit alone reached over VND 645 billion, a nearly 20% increase compared to the previous year. Notably, BIC continued to record high profits from its insurance business.

In his remarks at the conference, Mr. Tran Xuan Hoang – Standing Deputy Secretary of the BIDV Party Committee, Member of the BIDV Board of Directors, and Chairman of the BIC Board of Directors – highly appreciated the results achieved by the BIC system in the context of the non-life insurance market still facing many difficulties in 2024. Mr. Tran Xuan Hoang also shared the Board of Directors' business orientation for 2025 and expressed his hope that the entire BIC system, upon entering its 20th year, will experience significant changes and breakthroughs, achieve strong revenue growth, and ensure operational efficiency; continuing to affirm its position among the top 3 non-life insurance companies with the highest profitability in the market.

BIC's business launch ceremony

The conference also commended and rewarded the Boards/Units that excellently completed their tasks in 2024, the leading unit among the member units and the Head Office in 2024, the outstanding Business Executive Director in 2024, and the outstanding individual in 2024.

Source: https://daibieunhandan.vn/bic-se-but-pha-manh-me-o-tuoi-20-post404901.html