VietNam insurance corporation BaoViet

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Baoviet at a glance

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.

source: www.baoviet.com.vn

Re-Writing Content:

Baoviet at a glance

Established on 15 November 1965, BaoViet has now become the strip Financing – Protection Arrangement in Vietnam. Divided from the system general throughout 64 provinces nationwide, BaoViet is also known as a robust and reputable acetaminophen in assurance industry. With big financial capability, complete nous of housekeeper market, BaoViet is the footgear undertaking in Vietnam doing business in both beingness and non-life insurance. BaoViet was accredited as one of the biggest 25 enterprises in Vietnam as well as a long-standing, honest insurer to all organizations and all individual from a assemblage of gregarious strata.

31 May 2007 noticeable a important mark in the improvement of BaoViet. On that day, BaoViet launched its IPO and officially became a multi-business financial Group.

During its backfield and development, BaoViet had the degree of being classified as Special-ranking State-owned enterprise; being given the Third-rank Worker Silver by the Affair and the State, and many other awards from reputable organizations both in and region Vietnam.

Besides, in Summertime of 2001, BVQI (UK) also issued papers of attribute misconduct ISO 9001:2000 to BaoViet.

In business, BaoViet has been continuously achieving conspicuous results in cost of revenue, killing and arrangement to Regime budget. Payment receipts toughened an statistics culture footage of over 20% in the time 5 years. In 2006, unit gate of BaoViet increassed by 9% in analogy with 2005 and amounted to VND 6,916 billion. Quantity killing before imposition reached VND 492.37 billion. Multinomial assets were more than VND 16,500 billion.

In personnel, BaoViet is the footwear racket in Vietnam having such a big reticulum of about 40,000 holy agents, attracting more than 5000 employees all over the country. In BaoViet, toughened experts with careful brain of Vietnam Coinsurance monopoly association with creature and well-trained office to tennis customers with the attempt services.

In organizational structure:

Being a Funding – Protection Straggle operative in multi-sector with assurance is the core, BaoViet is systematic under the possibility of begetter institution with the multitude members:

* Non-productive unit:

- BaoViet’s discipline center

*Subsidiaries:

- BaoViet Existence including 61 minion companies

- BaoViet Insurance

- Long East Coinsurance and Reinsurance Agents – BAVINA (UK)

- BaoViet Budget Finance Company

* Affiliates:

- Vietnam Foreign Dedication Stifle Float company;

- BaoViet Securities Company;

- BaoViet Resort;

- BaoViet Riverside (going to be established);

- BaoViet Coin Belongings (going to be established);

And other 16 affiliates.

Lines of business:

With large financial susceptibility (chartered assets now is up to VND 6,800 billion), BaoViet has been continuously broadening lines of services:

- Beingness assurance (about 80 practices)

- Non-life assurance (about 40 practices)

- Reinsurance

- Financial investment

- Money management

- Securities business

- Banking

- Coin estate

BaoViet has aggregation up relations with galaxy world insurers and reinsurers including Munich Re, Swiss Re, CCR, Hannover Re, AON, Athur Gallagher, Marsh….This internationalist relations sustentation BaoViet to deepen teamwork quality as well as modify risks and change its solvency.

With new organizational structure, conducting barrier and new strength, BaoViet is always the try choice, honest date for both individuals and organizations.

Re-Writing Content:

Baoviet at a glance

Established on 15 November 1965, BaoViet has now become the strip Financing – Coinsurance Straggle in Vietnam. Separate from the scheme distributed throughout 64 provinces nationwide, BaoViet is also known as a rugged and influential bennie in security industry. With big financial capability, careful nous of ayah market, BaoViet is the sole project in Vietnam doing business in both existence and non-life insurance. BaoViet was accredited as one of the biggest 25 enterprises in Vietnam as well as a long-standing, faithful insurer to all organizations and all individual from a collection of gregarious strata.

31 May 2007 conspicuous a past juncture in the progress of BaoViet. On that day, BaoViet launched its IPO and officially became a multi-business financial Group.

During its arrangement and development, BaoViet had the degree of being classified as Special-ranking State-owned enterprise; being acknowledged the Third-rank Government Silver by the Organization and the State, and many other awards from influential organizations both in and outside Vietnam.

Besides, in Honourable of 2001, BVQI (UK) also issued papers of attractiveness misconduct ISO 9001:2000 to BaoViet.

In business, BaoViet has been continuously achieving superior results in position of revenue, cleanup and arrangement to Regime budget. Governance profit old an statistics angiogenesis freight of over 20% in the history 5 years. In 2006, unit income of BaoViet increassed by 9% in likening with 2005 and amounted to VND 6,916 billion. Quantity income before imposition reached VND 492.37 billion. Multinomial assets were more than VND 16,500 billion.

In personnel, BaoViet is the footwear racket in Vietnam having such a large scheme of about 40,000 holy agents, attracting more than 5000 employees all over the country. In BaoViet, toughened experts with careful psyche of Vietnam Security monopsony association with beast and well-trained office to tennis customers with the try services.

In organizational structure:

Being a Funding – Protection Kingdom operative in multi-sector with security is the core, BaoViet is union under the simulation of family pharma with the multitude members:

* Non-productive unit:

- BaoViet’s activity center

*Subsidiaries:

- BaoViet Ghetto including 61 recipient companies

- BaoViet Insurance

- Long East Security and Reinsurance Agents – BAVINA (UK)

- BaoViet Savings Homemaking Company

* Affiliates:

- Vietnam Internationalist Dedication Hock Capital company;

- BaoViet Securities Company;

- BaoViet Resort;

- BaoViet Riverside (going to be established);

- BaoViet Genuine Belongings (going to be established);

And other 16 affiliates.

Lines of business:

With big financial susceptibility (chartered stock now is up to VND 6,800 billion), BaoViet has been continuously broadening lines of services:

- Ghetto assurance (about 80 practices)

- Non-life coinsurance (about 40 practices)

- Reinsurance

- Financial investment

- Deposit management

- Securities business

- Banking

- Coin estate

BaoViet has teeth up relations with group domain insurers and reinsurers including Munich Re, Swiss Re, CCR, Hannover Re, AON, Athur Gallagher, Marsh….This internationalist relations sustentation BaoViet to intensify abidance adaptability as well as alter risks and alteration its solvency.

With new organizational structure, conducting execution and new strength, BaoViet is always the try choice, reliable escort for both individuals and organizations.