Fairfax Asia-backed insurer BIC to hike capital base for 1st time in decade
BIDV Insurance Corporation (HoSE: BIC) plans to increase its charter capital for the first time in 10 years to strengthen its financial capacity and competitiveness.
BIC has maintained its charter capital at VND1.17 trillion ($45.9 million) since 2015, when the company issued 41 million shares to Canada-based Fairfax Asia Limited at VND26,323 ($1.03) per share, or 35% of its charter capital.

BIDV Insurance Corporation's headquarters in Hanoi. Photo courtesy of BIC.
Therefore, the BIC board has proposed a capital hike roadmap 2025-2030 while maintaining the current stakes of its two major shareholders, BIDV (51%) and Fairfax (35%).
As part of this roadmap, the company intends to use retained earnings to issue stock dividends at an annual rate of 10% from 2025 to 2030.
Currently, BIDV Insurance comes fifth in Vietnam’s non-life insurance market in terms of revenue.
This year, the insurer aims for VND5.6 trillion ($219.48 million) in insurance premiums, up 10.5% year-on-year, and VND555 billion ($21.75 million) in pre-tax profit, down 14.6%.
BIC also plans to establish new member units in Hanoi and Ho Chi Minh City to expand its insurance business network. It also intends to increase its stock holdings in its investment portfolio amid low deposit interest rates.
In 2024, BIC earned VND4.26 trillion ($167.12 million) in insurance premiums, up 17% year-on-year, and VND499 billion ($19.56 million) in net profit, up 9%.
- Read More
Taiwan’s electronics firm Good Way Technology to invest $15 mln more in Vietnam
Good Way Technology, a Taiwan-based original design manufacturer (ODM) specialized in computing and mobile peripherals, will invest $15 million more in Vietnam.
Industries - Sat, March 15, 2025 | 2:24 pm GMT+7
Indonesia aims for 6.3% economic growth in 2026
Indonesia's Government targets an economic growth rate of 6.3% for 2026, according to the Ministry of National Development Planning (Bappenas).
Southeast Asia - Sat, March 15, 2025 | 11:24 am GMT+7
US, Vietnam energy firms sign agreements worth over $4 bln
U.S and Vietnamese energy companies on Thursday signed agreements worth $4.15 billion during a working trip of Vietnamese Special Envoy of the Prime Minister and Minister of Industry and Trade Nguyen Hong Dien to the United States.
Economy - Sat, March 15, 2025 | 11:17 am GMT+7
AI saviour in times of crisis for businesses: RMIT
Several studies and experiments have hinted at AI’s power in crisis management. AI can predict market fluctuations with a 70% accuracy and “foresee” the risk of a crisis 2.4 days in advance, writes Dr Bui Quoc Liem, a lecturer in professional communication at RMIT University Vietnam.
Consulting - Sat, March 15, 2025 | 10:54 am GMT+7
Thailand’s largest meat producer plans IPO in Vietnam
Thailand’s largest meat producer, Charoen Pokphand Foods Plc (CPF), is preparing to speed up the initial public offering (IPO) and listing of its biggest offshore unit in Vietnam to fund expansion.
Southeast Asia - Sat, March 15, 2025 | 10:45 am GMT+7
New M&A wave to sweep into Vietnam's property market: experts
Vietnam's real estate market is expected to heat up in 2025, driven by a strong influx of foreign direct investment (FDI) and a surge in mergers and acquisitions (M&A) deals, according to experts.
Real Estate - Sat, March 15, 2025 | 8:13 am GMT+7
Vietnam wants to build sustainable, balanced trade ties with US: Prime Minister
Vietnam is actively addressing the current concerns of the U.S. regarding bilateral investment and trade relations, Prime Minister Pham Minh Chinh told U.S. Ambassador Marc Knapper at a meeting on Thursday.
Economy - Fri, March 14, 2025 | 10:55 pm GMT+7
Vietnam retail space maintains stronghold despite e-commerce boom: experts
Retail stores will continue to hold a significant position in the Vietnamese market, despite the growing pressure from e-commerce, according to experts.
Real Estate - Fri, March 14, 2025 | 9:46 pm GMT+7
Malaysia strengthens semiconductor supply chain within ASEAN
Malaysia will continue strengthening cooperation with other ASEAN member states to promote a semiconductor supply chain in the region.
Southeast Asia - Fri, March 14, 2025 | 9:29 pm GMT+7
Vietnam urges Airbus to invest in making components
Airbus should study and invest in making components and developing the aviation industry in Vietnam, Minister of Finance Nguyen Van Thang suggested.
Industries - Fri, March 14, 2025 | 5:55 pm GMT+7
US giant Wanek Furniture to expand production capacity in Vietnam by 30% over 5 years
Wanek Furniture Co., Ltd., a leading wood producer in the U.S., plans to expand its production capacity in Vietnam by 30% over the next five years, said Lien Andrew Michael, its vice president and general director of Asian factories.
Industries - Fri, March 14, 2025 | 5:39 pm GMT+7
US Geological Survey cuts Vietnam’s rare earth reserve from 22 mln to 3.5 mln tons
The U.S. Geological Survey (USGS), under the U.S. Department of the Interior, has slashed down Vietnam’s rare earth reserve to 3.5 million tons in the March 2025 edition of its Mineral Commodity Summaries 2025 report.
Economy - Fri, March 14, 2025 | 3:16 pm GMT+7
Vietnam, US to crack down on trade origin fraud, illegal transshipment
Vietnam and the United States will cooperate in building mechanisms to prevent fraudulent trade, trade origin frauds, and illegal transshipments.
Economy - Fri, March 14, 2025 | 3:11 pm GMT+7
LNG-fired power projects under Vietnam's PDP VIII must operate in 2028
The Vietnamese government has asked relevant agencies to speed up the progress of LNG-fired power projects, towards completion and operation in 2028, earlier than the deadline specified in the power development plan VIII (PDP VIII).
Energy - Fri, March 14, 2025 | 11:43 am GMT+7
Vietnam a critical player in shaping future of Asia agriculture: DLG Asia Pacific exec
Vietnam's growing focus on mechanization, smart farming, and sustainable practices makes the country surely a critical player in shaping the future of agriculture in Asia, said Katharina Staske, managing director of DLG Asia Pacific.
Economy - Fri, March 14, 2025 | 9:15 am GMT+7
Foreign investment funds down holdings at Vietnam’s private lender Sacombank
Three foreign investment funds, namely Pyn Elite Fund, Norges Bank, and Amersham Industries Limited, have reduced their holdings or completely withdrawn from Vietnam’s private creditor Sacombank.
Finance - Fri, March 14, 2025 | 8:25 am GMT+7
- Consulting
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
AI can be a game changer for Vietnam tourism
-
In trade and investment, ASEAN and China are better together
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?