Business

Insurers record revenue increase during COVID-19

Insurance companies enjoyed an increase in sales in the first quarter of this year.
Insurers record revenue increase during COVID-19 ảnh 1Customers at a branch of Bao Viet Life. (Photo: VNA)

Hanoi (VNS/VNA) - Insurance companies enjoyed an increase in sales inthe first quarter of this year.

Bao Viet Holdings (BVH) has announced that its revenue increased by12 percent to 408 billion VND (17.4 million USD) in the period.

However, operating expenses soared by 286 percent to 104 billion VND, whichmade its profit after tax to drop by 9 percent compared to that of the firstquarter last year.

BVH's consolidated financial statements showed that insurance premium revenueincreased by 9 percent to 8.75 trillion VND.

In the first quarter which coincided with the COVID-19 pandemic, Bao VietInsurance Corporation, a subsidiary of BVH, applied a 20 percent discount onsome health insurance programmes.

Life insurance sector is contributed by Bao Viet Life with 225 billion VND inrevenue, up 16 percent year-on-year.

PetroVietnam Insurance Corporation (PVI), an enterprise operating in the fieldof non-life insurance, reported that its revenue in the first quarter grew by51 percent to 79 billion VND.

Vien DongInsurance Joint Stock Company reported its net revenue from insuranceincreased slightly by 2 percent to 541 billion VND, but after-tax profitdecreased by 32 percent to 10.7 billion VND.

Military Insurance Corporation (MIC) reported net revenue from insuranceincreased by 26 percent year-on-year to 499 billion VND.

However, the total cost of the insurance business increased 37 percent to 423billion VND, which led to a 5 percent decrease in profit in the first quarterto 28 billion VND./.
VNA
#COVID-19 #Insurance companies #insurer #Bao Viet #revenue increase #PVI #Vien Dong Insurance #MIC #Vietnam #Vietnam News #Vietnam News Agency #Vietnamplus
Follow VietnamPlus

Related News

See more

A refilling station of Petrolimex (Photo: VNA)

Import tariffs on certain fuel products reduced to 0%

Rising tensions in the Middle East, particularly the conflict involving the US, Israel and Iran, have significantly affected the global energy market, especially shipping activity through the Strait of Hormuz – a strategic route for transporting crude oil from the region.

Fishermen raise the national flag before heading out to the sea to affirm Vietnam’s sovereignty over its seas and islands. (Photo: VNA)

Dong Thap promotes IUU awareness from start of fishing season

Gia Thuan commune, located in the eastern part of the province, is a key fishing locality with 563 fishing vessels, including 423 offshore boats and 140 nearshore vessels, producing an average annual catch of over 42,970 tonnes of seafood.

Industrial production surges in the first two months of 2026. (Photo: VNA)

Industrial production posts strong growth in first two months

According to the National Statistics Office (NSO) under the Ministry of Finance, the index of industrial production (IIP) in February was estimated to decrease 18.4% from the previous month but increase 1% year on year. Overall, in the January–February period, the IIP rose 10.4% compared with the same period last year.

A delegation from the Nghe An provincial People’s Committee inspects production and business activities at the VSIP Nghe An Industrial, Urban and Service Park. (Photo:nhandan.vn)

Nghe An steps up reforms to attract FDI

In 2025, the provincial People’s Committee licensed 25 new FDI projects and approved capital adjustments for 20 others, bringing the total newly registered and additional investment to more than 1 billion USD. Many large-scale projects in the Southeast Nghe An Economic Zone have already become operational, contributing to export growth, state budget revenues and job creation.

Nearly 35,500 enterprises are newly registered nationwide, with total registered capital reaching nearly 313.7 trillion VND and more than 167,500 registered workers. (Photo: VNA)

Nearly 35,500 new businesses set up in first two months

The enterprises registered combined capital of about 313.7 trillion VND and more than 167,500 employees. Compared with the same period last year, the number of new businesses surged by 70.7%, while registered capital rose by 36.1% and registered labour increased by 19.1%.

The yarn factory of Unitex Textile and Dyeing Company Limited applies new technology to optimise operations using an automated model. (Photo: VNA)

Resolution 68: International lessons for private sector development

A common feature in many successful economies is a fundamental shift in the perception of private enterprises. In countries such as Singapore, Germany, Republic of Korea (RoK) and China, private firms are viewed not mainly as entities requiring strict control but as development partners and key forces generating growth, jobs and innovation.

The production line of Regza Electronics Vietnam Co., Ltd. located in Dong Nai province. (Photo: VNA)

Vietnam’s overseas investment rises 2.3-fold in first two months

During the period, 36 new overseas projects were granted investment certificates with total registered capital from Vietnamese investors reaching 532.4 million USD, up 2.3 times compared to the same period last year. In addition, three projects adjusted their capital with an additional 7.8 million USD, 1.5 times higher than a year earlier.