Bảo Việt Group earns record $1 billion

Friday, Dec 23, 2016 15:00

Bao Viet Group earned an estimated revenue of US$1 billion in 2016. — Photo kinhdoanhnet.vn

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

Initial figures in 2016 indicate Bao Viet Group insurer’s total revenues reached VND24 trillion (US$1.07 billion), fulfilling its goal for the entire year.

BVH is hovering at some VND60,000 per share, up from VND50,000 per share at the beginning of this year. BVH reached the year’s record high in October when its shares traded at VND70,000.

Statistics from the Insurance Supervisory Authority showed that Bao Viet 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, Bao Viet held a 16.8 per cent market share, coming after PVI.

Last year, Bao Viet Group earned revenues of nearly VND20.8 trillion, increasing by 9.1 per cent over the previous year.

Privatised in 2007, Bao Viet 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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