BAO MINH INSURANCE CORPORATION

BAO MINH INSURANCE CORPORATION (TỔNG CÔNG TY CỔ PHẦN BẢO MINH) is one of Vietnam’s longstanding players in the non-life insurance sector, operating with over two decades of market presence. Founded on September 8, 2004, and registered with the Ministry of Finance under Business ID 27GP/KDBH, the company functions as a joint stock company with a legal status that allows public trading. It is listed on the Ho Chi Minh Stock Exchange (HOSE) under the ticker symbol BMI, reflecting a level of transparency and regulatory compliance expected from publicly held financial institutions.

The head office of BAO MINH INSURANCE CORPORATION is located at No. 26, Ton That Dam Street, Nguyen Thai Binh Ward, District 1, Ho Chi Minh City, with regional offices in Hanoi, Hue, and Da Nang. At the end of 2023, the company employed a workforce of 1,722 people. The firm is currently led by Chairman Mr. LE SONG LAI, while Mr. LE VAN THANH serves as the General Director, supported by Chief Accountant Mr. SAI VAN HUNG. This leadership structure blends experience with operational focus, ensuring business continuity and financial discipline.

From a financial data standpoint, BAO MINH INSURANCE CORPORATION has shown relatively stable growth over recent years. Although total assets slightly declined in 2023 to USD 287.75 million (a marginal drop of 0.46%), the company posted a healthy increase in both revenue and profit. Total sales for 2023 reached USD 193.93 million, up 4.66% from the previous year, while profit climbed to USD 13.52 million, marking a 13.11% year-on-year growth. The company’s equity improved notably to USD 108.58 million, up 9.2%, indicating a strong capital base and retained earnings growth. The firm’s working capital, a key liquidity indicator, stood at USD 76.94 million, reflecting a stable operational buffer.

BAO MINH INSURANCE CORPORATION maintains a Tax Code of 0300446973 and has a paid-up capital of USD 49.54 million as of December 31, 2023. Its charter capital is listed at USD 37.53 million, which suggests the company has been successful in securing investor trust and raising funds. Among its notable shareholders are AXA S.A. from France (holding 16.65%), FIRSTLAND Co., Ltd. (5.65%), and a small group of internal shareholders and related individuals. Though the State Capital Investment Corporation retains a symbolic stake (0.04%), the company operates as an autonomous entity with a commercial focus.

While BAO MINH INSURANCE CORPORATION continues to face industry challenges such as fluctuating asset values and increased competition from both local and international insurers, it maintains its market relevance through steady profit margins and prudent financial management. Its core business remains firmly centered around non-life insurance services, a field where it has developed robust expertise and a diverse product portfolio. BAO MINH INSURANCE CORPORATION, through its balanced leadership and stable financial footing, represents a reliable name in Vietnam’s evolving insurance market.