BIC held 2012 Business Plan Activation Conference
At the conference, BIC’s CEO, Mr. Ton Lam Tung, delivered a report on BIC’s main business figures in 2011. In his speech, Mr Tung stressed that despite of difficulties of the economy in 2011, BIC still completed most of 2011 business plan. Especially, this is the first time BIC reached the profit of over 100 billion VND. Its total written premium achieved 689.6 billion VND, growing by 24.7% on year. Besides, business network expansion, customer services enhancing efforts were also the significant achievement of BIC in 2011.
Towards 2012, BIC will strive to improve insurance business efficiency and competitiveness via various solutions, such as: shortening the compensation procedures, renewing management mechanism, improving human resource policies… Notable figures of 2012 include: Total written premium of at least 850 billion VND, pre-tax profit of at least 106 billion VND, claim-rates of under 43 percent, market share of over 3,1 percent”.
Making his speech at the conference, Mr. Pham Quang Tung, BIC’s Chairman, highlighted the difficulties and threats of the market in 2012, especially the strategy of restructuring the financial market. This is not only the pressure but also the opportunity for BIC to restructure all activities in order to build suitable development orientations, improve competitiveness in the market.
At the Conference, BIC also honored execellent wholly owned subsidiaries of 2011, the best leaders of wholly owned subsidiaries in the period from 2009 – 2011 and well-managed directors in 2011.