Bảo hiểm Việt Nam ( Insurance in Viet Nam )

Tập đoàn Bảo hiểm Việt Nam ( The leading Finance – Insurance Group in Vietnam )


Established on 15 November 1965, BaoViet has now become the leading Finance – Insurance Group in Vietnam. Apart from the network widespread throughout 64 provinces nationwide, BaoViet is also famous as a strong and prestigious trademark in insurance industry. With enormous financial capability, thorough knowledge of domestic market, BaoViet is the sole enterprise in Vietnam doing business in both life and non-life insurance. BaoViet was accredited as one of the biggest 25 enterprises in Vietnam as well as a long-standing, trustworthy insurer to all organizations and all people from a variety of social strata.

31 May 2007 marked a historic milestone in the development of BaoViet. On that day, BaoViet launched its IPO and officially became a multi-business financial Group.

During its formation and development, BaoViet had the honor of being classified as Special-ranking State-owned enterprise; being granted the Third-rank Independent Medal by the Party and the State, and many other awards from prestigious organizations both in and outside Vietnam.

Besides, in August of 2001, BVQI (UK) also issued certificate of quality management ISO 9001:2000 to BaoViet.

In business, BaoViet has been continuously achieving outstanding results in terms of revenue, profit and distribution to State budget. Premium income experienced an average growth rate of over 20% in the past 5 years. In 2006, total revenue of BaoViet increassed by 9% in comparison with 2005 and amounted to VND 6,916 billion. Total profit before tax reached VND 492.37 billion. Total assets were more than VND 16,500 billion.

In personnel, BaoViet is the sole enterprise in Vietnam having such a large-scale network of about 40,000 dedicated agents, attracting more than 5000 employees all over the country. In BaoViet, experienced experts with thorough knowledge of Vietnam Insurance market associate with young and well-trained staff to serve customers with the best services.

In organizational structure:

Being a Finance – Insurance Group operating in multi-sector with insurance is the core, BaoViet is organized under the model of parent company with the following members:

* Non-productive unit:

- BaoViet’s training center

*Subsidiaries:

- BaoViet Life including 61 dependent companies

- BaoViet Insurance

- Far East Insurance and Reinsurance Agents – BAVINA (UK)

- BaoViet Fund Management Company

* Affiliates:

- Vietnam International Assurance Joint Stock company;

- BaoViet Securities Company;

- BaoViet Resort;

- BaoViet Bank (going to be established);

- BaoViet Real Estate (going to be established);

And other 16 affiliates.

Lines of business:

With enormous financial capacity (chartered capital now is up to VND 6,800 billion), BaoViet has been continuously broadening lines of services:

- Life insurance (about 80 practices)

- Non-life insurance (about 40 practices)

- Reinsurance

- Financial investment

- Fund management

- Securities business

- Banking

- Real estate

BaoViet has set up relations with world class insurers and reinsurers including Munich Re, Swiss Re, CCR, Hannover Re, AON, Athur Gallagher, Marsh….This international relations support BaoViet to enhance cooperation ability as well as diversify risks and increase its solvency.

With new organizational structure, management mechanism and new strength, BaoViet is always the best choice, trustworthy companion for both individuals and organizations.