After 15 years of operation, BIC has become a large public company with premiums increasing by more than 50 times compared to the first year of establishment.

According to the Insurance Association of Vietnam, in the first half of 2020, BIC was in the Top 7 leading non-life insurers by share of direct premiums. In the period 2006 - 2020, BIC's profit before tax saw an annual growth rate of 26 percent p.a. Owner’s equity also increased impressively by 11 times compared to 2006.

Though affected by the Covid-19 pandemic, BIC posted positive business results in the first 10 months of the year. Specifically, the parent company’s
premiums hit VND2,007 billion (USD86.5 million), up 15 percent year-on-year, completing 83 percent of the year plan. Of which, direct premiums reached VND1,844 billion (USD79.5 million), up 16 percent year-on-year. The company’s consolidated profit before tax reached VND326 billion (USD14 million), an increase of 35 percent over the same period last year, surpassing 135 percent of the year plan. Retail distribution channels also achieved impressive results, especially Bancassurance with the growth of 67 percent year-on-year.

Mr. Tran Xuan Hoang – a board member at BIDV, Chairman of BIC stated the overall goals of BIC in the next 5 years. Particularly, direct premiums to grow 20 percent p.a., Bancassurance revenue growth at 40 percent p.a.; separate profit before tax to grow higher than the average of the past 5 years, and combined cost ratio at 95 percent by 2025.

Mr. Phan Duc Tu, Chairman of the Board of Directors of BIDV, affirmed that BIC is an integral part of BIDV's business ecosystem. After 15 years, the company has made a strong transformation, cementing its position as one of the two main business pillars of the BIDV system. Mr. Phan Duc Tu lauded BIC's achievements and contributions to the development of the BIDV system. He said BIDV was committed to dedicate the best resources for insurance business at BIC.

In its business strategy to 2025 and vision to 2030, BIDV has identified insurance as a key source in the bank system's ecosystem. The BIDV chairman expected that BIC will continue to have strong development, becoming a leading insurance company in the country and the region.