Finance & Banking
Last updated: Monday, April 24, 2017
VBI Aims to Reach VND1,000 Billion of Premium Revenue in 2017Posted: Friday, March 31, 2017
2016 was another successful year for business activities because VBI achieved impressive results: with a total revenue of VND781 billion, increasing by 42 per cent compared to 2015. In particular, total direct insurance premium revenue was VND692 billion, accomplishing a growth rate of 42.2 per cent. Other indicators: profit of VND75.1 billion, increasing by 8 per cent compared to 2015.
Also in 2016, VBI was one of the first insurance companies in Vietnam issue electronic certificates and electronic invoices. In addition, VBI adopted a centralised online compensation management model and provided a variety of new and convenient product packages to customers.
Moreover, VBI was honoured with prestigious awards such as "Top 10 Best Insurance Companies in Vietnam”, "Top 100 Vietnam Excellent Brand" and "Top 1000 Corporate Income Tax Payers in Vietnam" from 2012 to 2015. The aforementioned awards are VBI's affirmation of its outstanding quality and services.
In 2017, VBI is focusing on customer services to provide customers professional insurance services. The insurer is targeting to increase total assets value by 10 per cent and revenue and profit growth of 10 per cent over 2016, thus expanding its business network and opening 5 new branches.
At the meeting, Ms Nguyen Hong Van – VBI Chairwoman and Member of the Board of Directors of VietinBank said: “With the objectives of promoting business activities, increasing revenue, profit and market share, improving service quality, financial capacity and management efficiency, VBI prepare equitisation plan and focus on seeking strategic foreign investors in2017.”
With its rapid and sustainable business development strategy, in 2017, VBI will continue to make breakthroughs in provision of insurance products, flexible financing package, and complete restructuring plans to raise business performance, bring values to customers and become the leader in the retail segment of Vietnam's non-life insurance market.