Bao Viet Group earned an estimated revenue of 1 billion USD in 2016 (Photo: kinhdoanhnet.vn)

Hanoi (VNA) - Bao Viet Group, listed on the HCM Stock Exchange as BVH, has become the first finance and insurance company in Vietnam to earn revenues of 1 billion USD.

Initial figures in 2016 indicate Bao Viet Group insurer’s total revenues reached 24 trillion VND (1.07 billion USD), fulfilling its goal for the entire year.

BVH is hovering at some 60,000 VND per share, up from 50,000 VND per share at the beginning of this year. BVH reached the year’s record high in October when its shares traded at 70,000 VND.

Statistics from the Insurance Supervisory Authority showed that Bao Viet held a 28.7 percent market share in life insurance in the first half of this year, ranking first by market share. In non-life insurance, Bao Viet held a 16.8 percent market share, coming after PVI.

Last year, Bao Viet Group earned revenues of nearly 20.8 trillion VND, increasing by 9.1 percent over the previous year.

Equitised in 2007, Bao Viet Group set a goal of becoming the leading company, in both life and non-life insurance markets by 2020, as well as in fund management.

The group now has some 170 branches nationwide.-VNA