On 13 March 2025, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) convened the 2025 Insurance Business Promotion Seminar 2025 to review performance results in 2024 and outline strategic directions for the year ahead amid both emerging opportunities and evolving market challenges.

The seminar brought together senior leaders from BIDV’s Head Office, business divisions, and  branches in Hanoi, as well as representatives from BIDV Insurance Corporation (BIC), and BIDV MetLife. The event was also livestreamed to BIDV branches nationwide.

In his opening remarks, Mr. Le Ngoc Lam, Chief Executive Officer of BIDV, underscored the strategic importance of insurance within BIDV’s comprehensive financial services ecosystem. He affirmed the bank’s commitment to strengthening insurance business through targeted solutions to enhance service quality, broaden the customer base and optimize the distribution of insurance products to both individual and corporate clients.

The Seminar report highlighted that in 2024, BIDV achieved a breakthrough in the bancassurance sector securing a strong position among market leaders. Building on this momentum, the bank will implement a series of strategic policies and action plans in 2025 to fully unlock its potential in insurance distribution. In terms of market positioning, BIDV MetLife advanced to the Top 6 in bancassurance nationwide, climbing to Top 2 during the last four months of 2024, while BIC its Top 1 position in the non-life bancassurance segment, a leadership role it has held since 2023. In 2024, BIC achieved a total premium revenue of VND 2,064 billion, a 4% increase year-on-year, meeting 100% of its business targets. Meanwhile, BIDV MetLife recorded VND 446 billion in life insurance revenue, a significant 32% growth compared to 2023.

Despite these achievements, the bank acknowledged persistent challenges, particularly in improving policy renewal rate, a critical factor for long-term sustainability in the life insurance business. Speaking at the seminar, BIDV MetLife’s representatives emphasized the need for transparent communication and personalized advisory services to help customers understand the value and long-term benefits of life insurance. They also noted the importance of targeting customer segments with high renewal potential, such as deposit clients and private banking customers. Representatives from BIDV's Wholesale and Retail Banking Divisions also shared strategic initiatives to bolster the insurance business in 2025. These include schemes, upgraded customer care policies, and integrated marketing, and brand communication campaigns. BIC reaffirmed its commitment to working closely with BIDV’s nationwide network to maintain its scale in bancassurance while further improving service quality, ensuring it retains its market-leading position.

In his closing, CEO Le Ngoc Lam issued a strong directive to the entire system: “No excuses, no retreat, full commitment across the board.” The Seminar marks a powerful kickoff for BIDV’s insurance business in 2025, inspiring the entire organization pursue ambitious growth targets and elevate the bank’s leadership in the integrated financial services landscape.