BIDV Insurance Corporation

LVI introduces new Chairman

Accordingly, in order to meet the management demand of LVI, LVI Board of Directors have introduced Mr. Lachay Khampravong, Deputy General Director of Banque Pour Le Commerce Exierieur Lao (BCEL), to officially hold the position of Chairman of LVI Board of Directors, in place of Mr. Phansana Khounnouvong from November 5th, 2014. Having years of experience in banking and finance field, especially in capital management and accounting, Mr. Lachay Khampravong will help LVI enhance management competence, thus, promote business activities in Laos insurance market.

In the first 10 months of 2014, business indicators of LVI grew steadily. Among those, total revenues from insurance premium reached USD 8.9 million, earning before tax was nearly USD 1.15 million, increasing by 46% over the first 10 months in 2013. ROE as of October 31st 2014 was 18%, which was much higher than the same period last year.

Mr. Lachay Khampravong officially hold the position of Chairman of LVI Board of Directors from November 5th, 2014

In the last two months, LVI will focus on synchronizing critical solutions in management, business, and continue expanding the market to improve the market share and performance efficiency, and assert its firm position as one of the two currently leading non-life insurance companies in Laos market.