Q2/2012: BIC profit increases more than 22.4pct
Besides, BIC focused on classifying insurance risks, thus reducing compensation rate significantly in the period, down 6 percent on year.
In H1/2012, the corporation made a net profit of VND41.1 billion on net revenue of VND254.7 billion versus VND34.8 billion and VND220 billion in H1/2011, respectively.
BIC had total assets of VND2.4 trillion at the end of the quarter from VND2 trillion at the beginning of the year, according to its balance sheet.
Some new the distribution channels under BIC’s retail development orientation such as online insurance and insurance via bank (Bancassurance) reported satisfactory figures. Besides, BIC has been researching and developing tele-sales channel (providing insurance via telephone) in order to affirm the leading position in researching and developing new products and distribution channels.
In H2/2012, BIC will continue to focus on completing the business plan. BIC is also preparing for the restructuring to become a holding company together with the negotiation and selection of strategic shareholders.