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GIC News

GIC’S 2012 final meeting

Monday, 08/26/2013 11:00
On 30/01/2013, Global Insurance Company (GIC) held the 2012 Final Meeting at New Epoch Hotel, Ho Chi Minh City. In this meeting, there were over 70 managers of Head Office, Northern Regional Office, Southern Regional Office and 15 GIC branches across Vietnam.

In the meeting, GIC assessed the implementation of 2012 business plan, addressed shortcomings and outstanding issues, enhanced current achievements further as well as finalized the plan for 2013. This was also the chance for managers to share their experiences after one year devoting great efforts to GIC’s business.

At the 2012 Final Meeting, the latest updates on the non-life insurance market in Vietnam and GIC’s business achievements in 2012 were presented to the participants. In addition, the meeting also addressed points to be improved for a better service quality and business management.

In 2012, total direct premium of Vietnam’s non-life insurance market reached VND 22,777bn, up 10.3% against 2011. GIC’s share ranked the 9th out of 29 non-life insurers with total revenue at VND 510.91bn, soared 2.7% over the same period last year (including Direct premium: VND 488.29bn, Inward premium: VND 22.63bn). In particular, the following lines gained high revenue: Property & Casualty, Motor, Health and Personal Accident.

Although the year 2012 was overwhelmed with difficulties due to the global economic downturn and the European sovereign debt crisis, GIC still managed to retain the Company’s position as one of the TOP 10 non-life insurers and to achieve growth over last year. This result was encouraging that indicated the continuous efforts by the whole GIC team.

GIC’s target for 2013 is to provide new products, bring in diversified benefits to the clients as well as to enhance service quality thanks to the strong support from ERGO, its strategic partner.

Some activities in the meeting:

Mr. Phan Hoang Chung Thuy – CEO – presented GIC’s business results

Dynamic discussions between GIC branches

Mr. Ho Nam Thang – Chairman

GIC branches were rewarded for their excellent performance

The year of 2013 is forecasted to be challenging to non-life insurers as a whole and to GIC in particular. However, with a proper business strategy and outstanding advantages, the year will be a milestone for GIC’s successful movement.

GIC News