According to data from the General Statistics Office, in 2024, the total non-life insurance premium revenue of the whole market will grow positively by 10.2%, reaching about VND 78,300 billion. However, the industry also faces many challenges such as the heavy damage caused by Typhoon Yagi, low disbursement rate of public investment capital, requirements and amendments from the Law on Insurance Business, Law on Credit Institutions... In that context, with efforts and proactive and creative business solutions, BIC still achieved positive results in the past year.
Reporting to the Conference on business results in 2024, Member of the Board of Directors, General Director of BIC Tran Hoai An said that the total insurance premium revenue of BIC's parent company last year reached nearly 5,100 billion VND, an increase of about 10% compared to the previous year, basically completing the 2024 plan. Of which, original insurance premium revenue reached nearly 5,000 billion VND, an increase of approximately 10% compared to 2024, helping BIC rise to the 5th position in terms of market share of original insurance premium revenue.
BIC General Director Tran Hoai An speaks
BIC's performance indicators in 2024 recorded an impressive breakthrough. Total consolidated profit before tax reached more than 650 billion VND, exceeding the profit plan for 2024. Of which, pre-tax profit before tax alone reached more than 645 billion VND, an increase of nearly 20% over the previous year. In particular, BIC continued to record high profits from insurance business activities.
Speaking at the Conference, Mr. Tran Xuan Hoang - Standing Deputy Secretary of BIDV Party Committee, Member of BIDV Board of Directors, Chairman of BIC Board of Directors highly appreciated the results that BIC system has achieved in the context of the non-life insurance market still facing many difficulties in 2024. Mr. Tran Xuan Hoang also shared about the business orientation of the Board of Directors in 2025 and wished that the entire BIC system entering its 20th birthday will have remarkable changes and progress, strong revenue growth, while ensuring operational efficiency; continue to affirm its position in the Top 3 non-life insurance companies with the highest profitability in the market.
BIC Business Launch Ceremony
The conference also commended and rewarded the member Boards/Units that excellently completed their tasks in 2024, the leading collective unit of the member unit block and Headquarters in 2024, the excellent business executive director in 2024 and the outstanding individual in 2024.
Source: https://daibieunhandan.vn/bic-se-but-pha-manh-me-o-tuoi-20-post404901.html
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