AsemconnectVietnam - Bao Minh is maintaining its position as a leading non-life insurance company in Vietnam, with a capital 30 times higher than the first days of establishment, equivalent to more than VND1,300 billion, a branch network covering all regions of the country with 65 member companies, 4,500 insurance agents...

Sharing at the 2024 business summary conference and launching the 2024 business conference recently held in Ho Chi Minh City, Mr. Vu Anh Tuan, General Director of Bao Minh Joint Stock Corporation (Stock code: BMI) said that in 2024, Bao Minh will mark 30 years of presence in the market, which is also the time when many insurance companies, including Bao Minh, expect positive signals and market recovery. However, despite being proactive, actively preventing early, from afar and proactively responding, Bao Minh has recorded a business result that reversed from the positive and optimistic predictions from the beginning of the year. It is expected that revenue will likely exceed VND7,000 billion, growing 5.58% over the same period in 2023 and exceeding the plan assigned by the General Meeting of Shareholders by approximately 3%. In particular, revenue arising from original insurance activities - the core activity of an insurance company achieved an impressive growth rate of nearly 8%. To achieve the above results, Bao Minh has received effective support from the Ministry of Finance, the Department of Insurance Management and Supervision, especially at a time when insurance companies are struggling to overcome the consequences caused by storm No. 3, maximizing the role and responsibility of the management agency, the Ministry of Finance, the Department of Insurance Management and Supervision has closely monitored the situation to promptly direct and guide businesses in handling losses, advances, compensation and paying insurance money quickly, promptly and fully to insurance buyers and beneficiaries according to the agreement in the contract and regulations of law.
This not only helps insurance buyers stabilize their financial situation to soon restore production and business activities, but also raises people's awareness of insurance, contributing to market development in the coming time.
In addition, through the State Capital Investment Corporation (SCIC), the State Capital Management Committee at Enterprises has recognized and objectively assessed Bao Minh's potential to consider and propose to competent authorities to maintain the State capital portion at the enterprise; create conditions for Bao Minh to promote the role and potential of a pioneering insurance enterprise with a State-controlled capital portion; participate in work programs to learn, connect and gradually expand relationships with new foreign partners in the US, Europe, etc., contributing to opening up many opportunities for cooperation and business development in the future for Bao Minh.... According to Mr. Vu Anh Tuan, in order to effectively develop plans and implement Bao Minh's business tasks in 2025, preparing for a new era of development, along with many business solutions as well as human resource development strategies, Bao Minh will strengthen digital transformation in insurance business activities through promoting the application of information technology, building a digital platform to connect, share data, synchronize data between Bao Minh and management agencies, customers and partners; ensure security, safety, information confidentiality...
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Source: VITIC/Tinnhanhchungkhoan