Bao Viet Holdings

Bao Viet (also Bao Viet Holdings Vietnamese: Tập đoàn Tài chính-Bảo hiểm Bảo Việt) is the largest Vietnamese insurance company and Vietnam's seventh largest listed company by market capitalisation.

[3] Besides various insurance products, Bao Viet has diversified into stock market trading, fond management and real estate.

[4] Bao Viet has been losing market shares in recent years and has also been making losses in the insurance sector since 2009.

It started operating on 15 Jan 1965, providing traditional insurance products in two branches in Hanoi and Haiphong with a total staff of 20 people and a capital stock of 10 million VND.

[5] From 2007 to 2008 Bao Viet was also restructured, including registration as a joint-stock company and the setting up of several wholly owned subsidiaries in the insurance sector.

[3] According to the Ministry of Finance, Bao Viet was the largest life insurer in 2012 with market share of 23.9%, slightly ahead of Prudential with 22.6%.

[7] Bao Viet Securities (BVS) (60% owned by BVH[4]) is the group's second company to be listed on a stock exchange.

The company's chairman Nguyen Thi Phuc Lam is also director of Bao Viet Holdings.

This was an expression of Bao Viet's new business model based on the three pillars of insurance, securities and banking.