VIETNAM NATIONAL AVIATION INSURANCE JSC

VIETNAM NATIONAL AVIATION INSURANCE CORPORATION (VNI) is one of Vietnam’s most established providers in the non-life insurance sector. Established on April 23, 2008, and legally registered with the Ministry of Finance, this joint stock company operates under Business ID 49GP/KDBH and Tax Identification Number 0102737963. Headquartered on the 25th Floor of the Vinacomin Building, No. 3, Duong Dinh Nghe Street, Yen Hoa Ward, Cau Giay District, Hanoi, VIETNAM NATIONAL AVIATION INSURANCE CORPORATION is widely recognized by its short name, VNI, and is listed on the stock exchange under the symbol AIC.

Legal Status and Ownership

Foreign and local investors primarily support VNI as a publicly held joint stock company. The majority shareholder is DB Insurance Co., Ltd. from South Korea, which owns 75% of the shares. Domestic stakeholders include the Handicraft and Art Articles Export-Import Corporation (12%) and other minority shareholders (13%).

Key Management

 NGHIEM X. T., the General Director, oversees the corporation. Under his leadership, VNI has grown into a national player, employing 1,708 staff members and maintaining a strong presence in the aviation and broader non-life insurance markets.

Business Focus and Services

The company’s core business is non-life insurance, with a particular emphasis on the aviation sector. This specialized focus allows VNI to offer tailored solutions to meet the risk management needs of businesses operating in one of Vietnam's most dynamic sectors.

Financial Highlights (As of FYE December 31, 2023)

VIETNAM NATIONAL AVIATION INSURANCE CORPORATION has shown solid performance, especially in profitability and asset growth. Based on USD-converted financials (at 1 USD = 24,341 VND), the company reported the following:

• Total Assets: USD 164.64 million (↑7.18% YoY)

• Total Sales: USD 81.69 million (↓14.8% YoY)

• Net Profit: USD 1.01 million (↑18.62% YoY)

• Owner’s Equity: USD 45.07 million (↑2.23% YoY)

• Working Capital: USD 35.53 million

• Net Worth: USD 44.95 million

Despite a slight dip in sales in 2023, the company achieved notable growth in profitability and equity, reflecting efficient risk underwriting and cost management strategies.

Stability and Growth Outlook

With over 17 years of operational history and a clear focus on non-life insurance, VNI continues to build upon its solid foundation. Its strong capital base (charter capital of over USD 41 million) and strategic foreign partnership enhance its long-term competitiveness. Furthermore, the recent growth in profit and assets signals a robust business model capable of adapting to market fluctuations and regulatory shifts.