BIC announces financial figures of first ten months
Of which, BIC’s cumulative premium from insurance fee in Jan-October was 518.45 billion dong, or 72 percent of the year’s plan and revenue from financial investment at 219.1 billion dong, or 80.3 percent of the year’s figure.
BIC’s before tax profit was 78.03 billion dong, four-fold increase from the same period last year and equalling to 78 percent of the year’s expectation, of which, profit from insurance business was 10.96 billion dong.
As of October 31, 2011, BIC posted total assets of 2.027 trillion dong, equity at 737.461 billion dong, total provision fund at 290.6 billion dong and return on equity (ROE) ratio at 8.2 percent.
Some new distribution channels under BIC’s retail development orientation such as online insurance and insurance via bank (Bancassurance) also reported satisfactory figures. Of which, online Bancassurance channel gained total accumulated revenue in Jan-October at 16.9 billion dong, or 106 percent of the year’s target.
In October, BIC also succeeded in negotiating and signing an insurance contract to cover Erection All Risks for Mong Duong 1 thermo power plant project (Cam Pha, Quang Ninh province) with a total insurance value of up to nearly $1.3 billion, marking the insurance contract with the biggest value of BIC so far in insurance sector for construction/erection.
BIC’s before tax profit was 78.03 billion dong, four-fold increase from the same period last year and equalling to 78 percent of the year’s expectation, of which, profit from insurance business was 10.96 billion dong.
As of October 31, 2011, BIC posted total assets of 2.027 trillion dong, equity at 737.461 billion dong, total provision fund at 290.6 billion dong and return on equity (ROE) ratio at 8.2 percent.
Some new distribution channels under BIC’s retail development orientation such as online insurance and insurance via bank (Bancassurance) also reported satisfactory figures. Of which, online Bancassurance channel gained total accumulated revenue in Jan-October at 16.9 billion dong, or 106 percent of the year’s target.
In October, BIC also succeeded in negotiating and signing an insurance contract to cover Erection All Risks for Mong Duong 1 thermo power plant project (Cam Pha, Quang Ninh province) with a total insurance value of up to nearly $1.3 billion, marking the insurance contract with the biggest value of BIC so far in insurance sector for construction/erection.