AGRICULTURE BANK INSURANCE JOINT STOCK CORPORATION

AGRICULTURE BANK INSURANCE JOINT STOCK CORPORATION is a prominent non-life insurance provider in Vietnam, operating under the Vietnamese name CÔNG TY CỔ PHẦN BẢO HIỂM NGÂN HÀNG NÔNG NGHIỆP and widely known by its short name ABIC. The company was established on 18 October 2006, has accumulated over 19 years of operating history, and remains active. ABIC is licensed by the Ministry of Finance, listed on UPCoM under the ticker ABI, and carries the tax identification number (TIN) 0102183722. Its head office is located at 6th Floor, 29T1 Building, Hoang Dao Thuy Street, Yen Hoa Ward, Ha Noi City, Vietnam.

ABIC focuses on non-life insurance, covering property, engineering, motor, agricultural, and other commercial risk lines. The company benefits from a strong institutional background, with Vietnam Bank for Agriculture and Rural Development (Agribank) holding a 51.32% controlling stake, alongside Vietnam National Reinsurance Corporation (VINARE) and other shareholders. This shareholder structure provides both distribution strength through the Agribank network and technical risk-sharing capacity via reinsurance support.

From a financial intelligence perspective, ABIC shows steady balance-sheet expansion with moderate earnings volatility. As of FY2024, total assets reached USD 178.31 million, up 9.67% year on year, while total sales increased to USD 88.46 million. Profit after tax stood at USD 8.41 million, down 16.89% compared with 2023, reflecting higher claims costs and provisioning pressures every day across the non-life insurance market. Owner’s equity amounted to USD 63.30 million, and working capital remained strong at USD 56.73 million, indicating solid liquidity and claims-paying capacity despite profit normalization.

In terms of governance, the company is chaired by Pham D. T., with executive management led by Nguyen T. H. (General Director) and supported by Quach T. K. (Deputy General Director). ABIC employs approximately 699 staff and operates a nationwide branch network, enabling broad retail and corporate coverage.

For banks, reinsurers, corporate clients, and counterparties, assessing an insurer like ABIC requires more than headline figures. This is where Vanguard Business Information LLC (VNBIS) plays a critical role. Through its financial intelligence and risk management services, VNBIS provides in-depth analysis of insurers’ capital adequacy, profitability trends, ownership structure, and liquidity resilience—key factors when evaluating underwriting strength, counterparty risk, and long-term solvency. In an environment of tightening regulations and rising claims volatility, such structured, data-driven insights are essential for informed decision-making across Vietnam’s insurance and financial ecosystem.