ABI

Establishment History:

• The establishment of Agricultural Bank Insurance Joint Stock Company (ABIC) ensures compliance with the Vietnam Insurance Market Development Strategy from 2003 to 2010, which was approved by the Prime Minister under Decision No. 175/2003/QDTTg dated August 29, 2003, Accordingly, in the coming time, the Government advocates "developing types of insurance businesses...in the direction of diversifying ownership forms to attract investment capital sources into the insurance business field"; Create conditions to attract investment capital from the population, thereby expanding the customer base, taking advantage of the intelligence and experience of a team of finance and insurance experts; Ensure the Company's management and operating mechanism is more open, convenient and flexible than the State-owned enterprise model. Thanks to that, ABIC will have the opportunity to strengthen and improve competitiveness in business.
• With the strengths of its founding shareholders, ABIC has built a potential insurance customer base, acquired experience in insurance and reinsurance business management, and reduced many initial difficulties and pressures when entering the non-life insurance business.
• With a founding and controlling shareholder, AGRIBANK, and a solid foundation of material and spiritual strength, ABIC will have many advantages in future business activities. That is to exploit and promote the outstanding potentials and strengths of AGRIBANK compared to other investors; The strength of the distribution network, financial potential, customer base, and reputation of the AGRIBANK brand in the market. Through nearly 2,000 branches and 34,000 employees of AGRIBANK, ABIC will have an easier time reaching customers, introducing insurance products, consulting, providing professional insurance services and creating a nationwide customer care and service network. ABIC also has a source of potential customers of over 20,000 businesses and over 9 million households that have credit and payment relationships with the AGRIBANK system.
• In addition, AGRIBANK's foreign business activities in the current period are also developing strongly, with agent relationships with nearly 1,000 banks in 105 countries and territories, participating in many international financial organizations. Therefore, this will also be a market with great and long-term potential for ABIC to target in the field of non-life insurance business, creating a reputable brand in the Vietnamese market as well as in the international market.
• From 2009 to 2015, the Company always achieved a growth rate in insurance premium revenue higher than the average growth rate in the market. In 2015, the Company achieved insurance premium revenue of 824,802 million VND, of which original premium revenue was 784,452 million VND. VND, reinsurance revenue is 40,351 million VND.

Business Sectors:

• Non-life insurance (accident and human health insurance, cargo insurance, property insurance, motor vehicle insurance, civil liability insurance, fire and explosion insurance, ship insurance...)

Address: 6th floor, 29T1, Hoang Dao Thuy street - Cau Giay - Hanoi

Phone: 0246 2990 055 Fax: 0246 2580 055

Disclosure Officer:

Email: [email protected]

Website: https://abic.com.vn