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Bảo Việt Group earns record $1 billion

Update: December, 23/2016 - 15:00
Bảo Việt Group earned an estimated revenue of US$1 billion in 2016. - Photo kinhdoanhnet.vn
Viet Nam News

HÀ NỘI – Bảo Việt Group, listed on the HCM Stock Exchange as BVH, has become the first finance and insurance company in Việt Nam to earn revenues of US$1 billion.

Initial figures in 2016 indicate Bảo Việt Group insurer’s total revenues reached VNĐ24 trillion (US$1.07 billion), fulfilling its goal for the entire year.

BVH is hovering at some VNĐ60,000 per share, up from VNĐ50,000 per share at the beginning of this year. BVH reached the year’s record high in October when its shares traded at VNĐ70,000.

Statistics from the Insurance Supervisory Authority showed that Bảo Việt held a 28.7 per cent market share in life insurance in the first half of this year, ranking first by market share. In non-life insurance, Bảo Việt held a 16.8 per cent market share, coming after PVI.

Last year, Bảo Việt Group earned revenues of nearly VNĐ20.8 trillion, increasing by 9.1 per cent over the previous year.

Privatised in 2007, Bảo Việt Group set a goal of becoming the leading company, in both life and non-life insurance markets by 2020, as well as in fund management.

The group now has some 170 branches nationwide. - VNS

 

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