Insurance giants Bao Viet and Bao Minh 'play' with stocks, revealing portfolios worth hundreds of billions and thousands of billions

Many insurance companies often allocate part of their investment portfolio to invest in stocks, in addition to safer channels such as government bonds and bank deposits.

The investment portfolios of insurance "giants" are quite diverse - Photo: QUANG DINH

Bao Viet Group's (BVH) Q2-2025 financial report shows that the company owns a financial investment portfolio of up to VND241,913 billion at the end of June 2025, an increase of VND10,370 billion compared to the beginning of this year. This figure accounts for 91.6% of Bao Viet's total assets.

"Examining" the portfolio structure, bank deposits play a key role in BVH's asset allocation, with VND 127,510 billion at the end of June 2025.

Second in the group's investment structure is bonds, with a total value of more than VND102,652 billion, an increase of more than 7% compared to the beginning of the year.

Of which, government bonds accounted for more than 70,061 billion VND, while corporate bonds were "poured" by BVH 32,591 billion VND.

In addition to deposits and bonds, BVH also invested in stocks and fund certificates, with a total value of VND3,639 billion. Listed stocks alone accounted for 90%, equivalent to VND3,279 billion, a slight increase compared to the beginning of the year.

The codes that BVH "holds" the most includeACB with 813 billion VND, CTG (386 billion VND), VNM (418 billion VND)... Other listed stocks without detailed explanation amount to 1,660 billion VND.

In addition, the company also invested nearly VND63 billion in some unlisted shares of Ca Mau Seafood Joint Stock Company, Phuong Dong Shipping and Trading Joint Stock Company, Vietnam Engine and Agricultural Machinery Corporation or MBLand Corporation.

Notably, the book value after provisioning of the above unlisted stocks is only 39.9 billion VND, a decrease of 36% compared to the original price.

In addition, BVH's portfolio of investments in joint ventures and associates is also quite diverse, notably BaoViet Bank (VND 1,560 billion), Trung Nam Phu Quoc (VND 431 billion), Tokio Marine Vietnam (VND 147 billion), PLT (VND 97 billion), Bao Viet SCIC (VND 70 billion) and Long Viet (over VND 29 billion).

BVH also contributed capital to many other units such as: CMC Technology Group (144 billion VND), International Finance Tower Project - IFT (169 billion VND), SSG Group (225 billion VND) and Vietnam Engine and Agricultural Machinery Corporation (346 billion VND).

Thanks to investing a huge amount of money, in the first half of 2025, Bao Viet Group recorded financial revenue of more than 6,663 billion VND.

Bank interest alone accounts for VND3,463 billion of the total amount mentioned above. Next is VND2,540 billion in interest on bonds, promissory notes, treasury bills, along with VND156 billion in dividends and VND71.4 billion in interest on securities investment and trading.

Financial revenue contributed significantly to BVH's overall business picture. After deducting expenses and taxes, BVH recorded consolidated after-tax profit of VND1,349 billion, up 33% over the same period.

Bao Minh's stock portfolio worth hundreds of billions of dong is 'temporarily' at a loss

Bao Minh Joint Stock Corporation (BMI) - another insurance company - also has a "long" stock investment portfolio.

At the end of June 2025, Bao Minh had a trading securities portfolio of VND 284 billion with more than 40 codes.

Accordingly, Bao Minh's securities investment portfolio ranges from banking to retail, securities, public investment, oil and gas... such as: TCB, STB, HDB, CII, HHV, SSI, NTP, SHB, PVS...

Notably, in the first 6 months of this year, Bao Minh had to set aside a provision for price reduction of up to 58.2 billion VND, equivalent to more than 20% of the original investment price.

In addition to the stock portfolio, Bao Minh also recorded poor results in corporate bond investment.

Both investments in bonds of Song Da Thang Long Joint Stock Company (VND8.7 billion) and Vietnam Shipbuilding Industry Group - Vinashin (VND68.4 billion) are required to set aside provisions for devaluation equal to the entire original price.

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BINH KHANH

Source: https://tuoitre.vn/ong-lon-bao-hiem-bao-viet-bao-minh-choi-chung-khoan-lo-danh-muc-tram-ti-nghin-ti-20250817184815538.htm