BIDV Insurance Corporation

BIC to have 03 new wholly-own subsidiaries

The ceremonies were attended and witnessed by Representatives of leaders of the People's Committee, State Bank at branches of Son La, Lao Cai, Tien Giang, representatives of leaders of the Bank for Investment and Development of Vietnam (BIDV), BIDV Branch Managers in the localities, members of Board of Directors, Board of Managers, the key officials of BIC and the entire staff of BIC Northwest, BIC Lao Cai, BIC Cuu Long.

Opening ribbon-cutting ceremonies

Representatives of provincial leaders have appreciated the performance of BIC over the years while BIC is not only constantly among the 07 largest insurance companies in the market but also always one of the insurance companies with the most effective business activities at the same time. Thanks to supports from BIDV branches in the localities and inheritance of nearly 10 years of successful business experience in the non-life insurance industry of BIDV Insurance Corporation, the advent of BIC Northwest, BIC Lao Cai, BIC Cuu Long shall make significant contributions to the development of the financial sector in general and the insurance sector in particular in the provinces.

From BIDV’s point of view, representatives of leaders of BIDV also considered BIC as one of the most effective subsidiaries in the BIDV system. Besides, BIC is also one of the most active companies in the implementation of product innovation, service quality and customer care improvement and especially in the expanding and developing business networks. The newly formed wholly-own subsidiaries shall help BIC to enhance competitiveness in key areas, particularly to be able to respond quickly and handle compensation claims. The introduction of these new wholly-own subsidiaries also shall help to strengthen the close collaboration between BIC and BIDV branches in the localities, thereby providing packaged financial products and satisfying the utmost needs of customers.

Also at these ceremonies, 03 new wholly-own subsidiaries of BIC signed the first insurance contracts. In particular, BIC Northwest has cooperated with Ngoc Quynh Trading Joint Stock Company, An Binh Commercial Joint Stock Bank - Son La Branch. BIC Lao Cai has cooperated with Phuc Khanh Energy Development and Construction Investment Joint Stock Company, Nam Tien Lao Cai Corporation. BIC Cuu Long has cooperated with Hai Duong Seafood Joint Stock Company, Dai Thanh Limited Company. The sum insured in these contracts was up to trillions of dong.

03 new wholly-own subsidiaries of BIC signed the first insurance contracts

Besides, with desire to bring a warm and well-off lunar New Year festival to local needy people in Son La, Lao Cai, Tien Giang, at this ceremony, Mr. Vu Minh Hai, BIC’s CMO, President of the BIC Union represented BIDV Insurance Corporation to make a total of nearly 100,000,000 VND worth of cash and in-kind charitable contributions to Orphan Care Center of Son La province, Center for Social Work of Lao Cai province, Center for Social Work of Tien Giang province.

Mr. Vu Minh Hai represented BIC to make a total of nearly 100,000,000 VND worth of cash and in-kind charitable contributions to Orphan Care Center of Son La province, Center for Social Work of Lao Cai province, Center for Social Work of Tien Giang province.

03 new wholly-own subsidiaries of BIC were established under the adjusted license No.11/GPĐC13/KDBH dated 27 December 2014 of the Minister of Finance. Up to the present time, BIC has 25 wholly-own subsidiaries and more than 120 Sales Departments covering almost the major areas across the country.