BIDV Insurance Corporation

The Ministry of Finance has just issued Adjustment License No. 11/GPĐC21/KDBH, officially approving BIDV Insurance Corporation (BIC) to increase its charter capital to VND 2,020 billion.

This marks an important milestone in celebration of BIC’s 20th anniversary, opening opportunities for the company to strengthen its internal capacity, enhance competitiveness, and lay the foundation for a new breakthrough phase.

Increasing capital to strengthen internal capacity and seize opportunities

Vietnam’s non-life insurance market is entering a clear transition phase, shifting from competition based merely on scale to competition based on service quality, financial strength, and technological capability. In the past, insurers mainly focused on expanding market share, but now the key factors for maintaining position and achieving breakthroughs lie in professional service delivery, strong financial capacity, and quick adaptation to technological trends. In this context, strengthening financial foundations has become essential for BIC—not only to seize opportunities but also to proactively respond to increasingly complex market fluctuations.

The period 2025–2030 is forecast to witness strong recovery and growth of Vietnam’s economy, opening major opportunities for the non-life insurance sector. As the economy grows, insurance demand will rise significantly, especially in high-value sectors such as construction, logistics, energy, public assets, and technical infrastructure. These areas require insurers not only to have strong financial capacity but also to meet strict technical, transparency, and professionalism standards.

Alongside economic growth, digital transformation is reshaping the insurance industry. The race to invest in artificial intelligence (AI), big data, digital platforms, and process automation is intensifying among leading insurers. To participate and break through in this technological revolution requires not only strategic vision but also long-term and sustainable financial resources.

BIC’s capital increase is not only an effort to strengthen financial capacity but also a testament to its proactive spirit, development resilience, and long-term vision. In a volatile market, companies that reform and invest methodically will have the chance to adapt quickly and enhance competitiveness. BIC clearly recognizes this and has prepared a solid foundation to transform strongly, ready to seize growth opportunities and affirm its position as one of Vietnam’s leading non-life insurers.

A solid foundation for a breakthrough journey

The year 2025 not only marks the 20th anniversary of BIC’s establishment and development but also opens a new phase of transformation. Increasing charter capital to VND 2,020 billion is a strategic move, unanimously approved by BIC’s General Meeting of Shareholders, reflecting strong consensus and commitment to the company’s long-term development orientation.

The additional capital will help BIC strengthen its financial foundation, enhance credibility with customers and partners, and create an important premise for upgrading international credit ratings. This enables BIC to participate in large-scale insurance projects and contracts, meeting increasingly stringent market requirements. It also provides the basis for expanding its network and developing new product lines aligned with modern trends, such as microinsurance, insurance for digital assets, natural disaster risks, and climate change—products with great potential but requiring serious investment and strong financial foundations.

The capital increase also provides a solid foundation for BIC to accelerate digital transformation. With more resources, BIC can improve its core insurance system, develop online distribution channels, implement AI in claims assessment, and apply big data in customer behavior analysis. These are key factors to enhance service quality, optimize customer experience, and affirm its pioneering position in the industry’s technological revolution.

The capital increase further demonstrates long-term commitment, development orientation, and the support of its two major shareholders, including parent bank BIDV.

Not only completing the capital increase in 2025, BIC has also clearly defined its capital growth direction for the next phase. From 2026–2030, BIC will continue to increase capital through dividend payments in shares. The payout ratio will be proposed by the Board of Directors and approved by the General Meeting of Shareholders annually, based on actual business results.

This approach both ensures shareholder benefits and helps BIC maintain sustainable charter capital growth, in line with long-term development requirements and competitive trends in the non-life insurance market. With charter capital exceeding VND 2,020 billion, BIC has become one of the four non-life insurers with the highest charter capital in the market. This is an important foundation for the company to continue expanding scale, strengthening financial capacity, and affirming its leading position in the coming period.