Bao Viet Group posts 24% higher revenue for 2016
Firm ends the year strong and exceeds target revenue growth
Bao Viet Group posts 24% higher revenue for 2016
INSURANCE NEWS
By Gabriel Olano
12 Apr 2017
The Bao Viet Group, Vietnam’s largest insurance player, has recorded around VND25.7 trillion (US$1.13 billion) in revenue for 2016, a 24% improvement over the previous year, and 14% higher than the set target.
 
As stated in the group’s financial results released on Monday, life insurance made up majority of the firm’s revenue, at 52.4%. Non-life insurance was second at 28%, while revenue from other financial services and miscellaneous businesses made up the remainder at 19.6%.

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The group’s total assets for 2016 stood at VND14.5 trillion (US$640 million), a 25% increase from the previous year.

Since it was privatised in 2007, Bao Viet has stated its aim to become the country’s leader in both life and non-life insurance, as well as in investment funds management, by 2020. The firm currently serves customers from 170 branches across Vietnam.


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