183
APPENDIX 12
ORIGINAL INSURANCE PREMIUM REVENUE BY INSURANCE PRODUCTION OF NON-LIFE INSURANCE MARKET IN VIETNAM IN THE PERIOD 2010 - 2017
14,000,000
13,308,000
Agricultural insurance
12,000,000
12,085,000 12,225,000
Business loss insurance
10,000,000
9,746,000
Credit and financial risk insurance
main
9,651,000
General liability insurance
8,000,000
7,773,000
Hull Insurance and Ship Owner's Liability
7,588,000
6,850,732
Fire and explosion insurance
6,000,000
6,095,377
6,257,486
5,732,619
5,967,000
6,196,000
5,839,000
5,983,000
5,664,000
Motor vehicle insurance
5,375,422 5,298,573 5 5 , , 3 1 3 6 5 6 , , 2 6 1 2 0 8
Aviation insurance
4,000,000
4,070,308
3,827,895
3,153,052
Cargo and transportation insurance
2,511,713
2,457,000
2,000,000
2,165,971
2,300,000 2,218,000 2.3 43,000 Property and casualty insurance
1,788,035
1,915,596
1,269,046
870,434
Child health and accident insurance
774,000 699,000 people
-
518,869 607,850
- - -
588,172 610,000 625,000
- 3,000 22,000 27,000 25,000Insurance guarantee
2010 2011 2012 2013 2014 2015 2016 2017
(Source: Insurance Management and Supervision Department)
184
APPENDIX 13
ORIGINAL INSURANCE COMPENSATION AMOUNT BY BUSINESS IN THE WHOLE NON-LIFE INSURANCE MARKET IN THE PERIOD 2011-2017
TT
Business | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | ||||||||
Value (million dong) | Proportion (%) | Value (million dong) | Proportion (%) | Value (million VND) | Proportion (%) | Value (million VND) | Proportion (%) | Value (million VND) | Proportion (%) | Value (million VND) | Proportion (%) | Value (million dong) | Proportion (%) | ||
1 | Agricultural insurance | 2,172 | 0.02 | 103,403 | 1.17 | 553,900 | 5.19 | 68,000 | 0.62 | 7,000 | 0.05 | 8,000 | 0.06 | 2,000 | 0.01 |
2 | Business loss insurance | 18,993 | 0.22 | 8,319 | 0.09 | 3,255 | 0.03 | 28,000 | 0.26 | 7,000 | 0.05 | 18,000 | 0.14 | 34,000 | 0.21 |
3 | Credit insurance and financial risk | 8,706 | 0.10 | 6,387 | 0.07 | 33,439 | 0.31 | 20,000 | 0.18 | 48,000 | 0.35 | 18,000 | 0.14 | 77,000 | 0.48 |
4 | General liability insurance | 38,098 | 0.44 | 121,034 | 1.37 | 78,064 | 0.73 | 78,000 | 0.71 | 89,000 | 0.64 | 93,000 | 0.70 | 139,000 | 0.87 |
5 | Hull Insurance and Ship Owner's Liability | 1,206,379 | 13.81 | 792,231 | 8.95 | 1,737,318 | 16.29 | 934,000 | 8.53 | 959,000 | 6.92 | 794,000 | 5.99 | 1,199,000 | 7.51 |
6 | Fire and explosion insurance | 1,137,494 | 13.02 | 913,718 | 10.32 | 1,006,208 | 9.43 | 1,209,000 | 11.04 | 1,923,000 | 13.88 | 1,126,000 | 8.50 | 1,162000 | 7.28 |
7 | Motor vehicle insurance | 3,083,076 | 35.30 | 3,207,828 | 36.22 | 3,223,713 | 30.22 | 3,520,000 | 32.13 | 4,303,000 | 31.07 | 5,805,000 | 43.82 | 7,309,000 | 45.80 |
8 | Aviation insurance | 300,500 | 3.44 | 63,326 | 0.72 | 95,555 | 0.90 | 141,000 | 1.29 | 135,000 | 0.97 | 286,000 | 2.16 | 112,000 | 0.70 |
9 | Cargo and transportation insurance | 469,763 | 5.38 | 518,026 | 5.85 | 489,376 | 4.59 | 565,000 | 5.16 | 769,000 | 5.55 | 557,000 | 4.20 | 719,000 | 4.51 |
10 | Property and casualty insurance | 611,596 | 7.00 | 1,289,955 | 14.57 | 1,284,931 | 12.05 | 2,031,000 | 18.54 | 2,893,000 | 20.89 | 1,372,000 | 10.36 | 1,608,000 | 10.08 |
11 | Health and personal accident insurance | 1,858,362 | 21.27 | 1,831,119 | 20.68 | 2,161,846 | 20.27 | 2,361,000 | 21.55 | 2,717,000 | 19.62 | 3,141,000 | 23.71 | 3,597,000 | 22.54 |
12 | Insurance guarantee | - | - | - | - | - | - | - | 1,000 | 0.01 | 29,000 | 0.22 | 400 | 0.003 | |
Total | 8,735,139 | 100 | 8,855,346 | 100 | 10,667,605 | 100 | 10,955,000 | 100 | 13,851,000 | 100 | 13,246,000 | 100 | 15,957,000 | 100 | |
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![Pre-tax Profit of Bidv Tien Giang in the Period 2011-2015
zt2i3t4l5ee
zt2a3gsnon-credit services, joint stock commercial bank
zt2a3ge
zc2o3n4t5e6n7ts
At that time, the Branch had to set aside a provision for credit risks, which reduced the Branchs income.
Chart 2.2. Pre-tax profit of BIDV Tien Giang in the period 2011-2015
Unit: Billion VND
140
120
100
80
60
40
20
0
63.3
80.34
89.29
110.08
131.99
2011 2012 2013 2014 2015
Profit before tax
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, through chart 2.2, it can be seen that BIDV Tien Giangs profit is still increasing continuously, and its operating efficiency is currently leaking. This is a contribution of non-credit services, and this service segment will be increasingly focused on growth by BIDV Tien Giang to ensure the highest profit safety because credit activities have many potential risks. At the same time, focusing on developing non-credit services is consistent with one of the contents of restructuring the financial activities of credit institutions in the project Restructuring the system of credit institutions in the period 2011-2015 approved by the Prime Minister in Decision No. 254/QD-TTg dated March 1, 2012 [14]: Gradually shifting the business model of commercial banks towards reducing dependence on credit activities and increasing income from non-credit services.
2.2. Current status of non-credit service development at BIDV Tien Giang.
2.2.1. BIDV Tien Giang has deployed the development of non-credit services in recent times.
Along with the development of the Head Office, BIDV Tien Giangs products and services are constantly improved and deployed in a diverse manner to ensure provision for many different customer groups in the area: individual customers, corporate customers, and financial institutions. Typical services are as follows: Payment services, treasury services, guarantee services, card services, trade finance, other services: Western Union, insurance commissions, consulting services, foreign exchange derivatives trading, e-banking services,...
2.2.1.1. Payment services:
In accordance with the Prime Ministers Project to promote non-cash payments in Vietnam [15], banks in Tien Giang province have continuously developed payment services to reduce customers cash usage habits through card services and electronic banking services such as: salary payment through accounts, focusing on developing card acceptance points, developing multi-purpose cards, paying social insurance by transfer, paying bills through banks, etc.
Chart 2.3. Net income from payment services in the period 2011-2015
Unit: Million VND
6000
5000
4000
3000
2000
1000
0
3922 4065
4720 5084 5324
2011 2012 2013 2014 2015
Net income from payment services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Along with the technological development of the entire system, BIDV Tien Giang has a payment system with a fairly stable transaction processing speed, bringing many conveniences to customers. The results of observing chart 2.3 show that the income from payment services that the Branch has achieved has grown over the years but the speed is not high and the products are not outstanding compared to other banks. Domestic payment products such as: Online bill payment, electricity bills, water bills, insurance premiums, cable TV bills, telecommunications fees, airline tickets, etc. bring many conveniences to customers. Regarding international payment, this is an indispensable activity for foreign economic activities, BIDV Tien Giang is providing international payment methods for small enterprises producing agriculture, aquatic food and seafood that have credit relationships with banks in industrial parks in Tien Giang province such as: money transfer, collection, L/C payment.
2.2.1.2. Treasury services:
BIDV Tien Giang always focuses on ensuring treasury safety and currency security, always complies with legal regulations, and minimizes risks in operations such as: counting and collecting money from customers, receiving and delivering internal transactions, collecting from the State Bank (SBV) or other credit institutions, receiving ATM funds, bundling money, etc. BIDV Tien Giangs treasury service management department is always fully equipped with modern machinery and equipment such as: money transport vehicles, fire prevention tools, money counters, money detectors, magnifying glasses, etc. to ensure absolute safety in treasury operations, immediately identifying real and fake money and other risks that may affect people and assets of the bank and customers. In addition, implementing regulation 2480/QC dated October 28, 2008 between the State Bank of Tien Giang province and the Provincial Police on coordination in the fight against counterfeit money, in the 3-year review of implementation, BIDV Tien Giang discovered, seized and submitted to the State Bank of Tien Giang province 475 banknotes of various denominations and was commended by the Provincial Police and the State Bank of Tien Giang province [17].
Chart 2.4. Net income from treasury services in the period 2011-2015
Unit: Million VND
350
300
250
200
150
100
50
0
105 122
309 289 279
2011 2012 2013 2014 2015
Net income from treasury services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, as shown in Figure 2.4, income from treasury operations is not high and fluctuates. Specifically, in the period 2011-2013, net income increased and increased most sharply in 2013, then in the period 2013-2015, there was a downward trend. This fluctuation is due to the fact that fees collected from treasury services are often very low and can even be waived to attract customers to use other services.
2.2.1.3. Guarantee and trade finance services:
BIDV Tien Giang, thanks to the advantages of the province and the favorable location of the Branch, has continuously focused on developing income from guarantee services and trade finance.
Chart 2.5. Net income from guarantee and trade finance services in the period 2011-2015
Unit: Million VND
14000
12000
10000
8000
6000
4000
2000
0
5193 5695
2742 3420
8889
3992
11604 12206
5143 5312
2011 2012 2013 2014 2015
Net income from guarantee services Net income from Trade Finance
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.5, we can see that BIDV Tien Giangs income from guarantee services and trade finance has grown over the years. The reason is: Among BIDV Tien Giangs corporate customers, the construction industry is the industry with the highest proportion of customers after the trading industry, this is a group of customers with potential to develop guarantee services. The second group of customers is corporate customers in the fields of agricultural production, livestock and seafood processing with high import and export turnover in the area.
are the target of trade finance development. In addition, BIDV Tien Giang also focuses on continuously developing these customer groups to increase revenue for many other products and services in the future.
2.2.1.4. Card and POS services:
As a service that BIDV Tien Giang has recently developed strongly, it can be said that this is a very potential market and has the ability to develop even more strongly in the future. Card services with outstanding advantages such as fast payment time, wide payment range, quite safe, effective and suitable for the integration trend and the Project to promote non-cash payments in Vietnam. Cards have become a modern and popular payment tool. BIDV Tien Giang early identified that developing card services is to expand the market to people in society, create capital mobilized from card-opened accounts, contribute to diversifying banking activities, enhance the image of the bank, bring the BIDV Tien Giang brand to people as quickly and easily as possible. BIDV Tien Giang is currently providing card types such as: credit cards (BIDV MasterCard Platinum, BIDV Visa Gold Precious, BIDV Visa Manchester United, BIDV Visa Classic), international debit cards (BIDV Ready Card, BIDV Manu Debit Card), domestic debit cards (BIDV Harmony Card, BIDV eTrans Card, BIDV Moving Card, BIDV-Lingo Co-branded Card, BIDV-Co.opmart Co-branded Card). These cards can be paid via POS/EDC or on the ATM system. In addition, with debit cards, customers can not only withdraw money via ATMs but also perform utilities such as mobile top-up, online payment, money transfer,... through electronic banking services.
In order to attract customers with card services, BIDV Tien Giang has continuously increased the installation of ATMs. As of December 31, 2015, BIDV Tien Giang has 23 ATMs combined with 7 ATMs in the same system of BIDV My Tho, so the number of ATMs is quite large, especially in the center of My Tho City, but is not yet fully present in the districts. Basic services on ATMs such as withdrawing money, checking balances, printing short statements,... BIDV ATMs accept cards from banks in the system.
Banknetvn and Smartlink, cards branded by international card organizations Union Pay (CUP), VISA, MasterCard and cards of banks in the Asian Payment Network. From here, cardholders can make bill payments for themselves or others at ATMs, by simply entering the subscriber number or customer code, booking code that service providers notify and make bill payments.
Chart 2.6. Net income from card services in the period 2011-2015
Unit: Million VND
3500
3000
2500
2000
1500
1000
500
0
687
1023
1547
2267
3104
2011 2012 2013 2014 2015
Net income from card services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.6, it can be seen that BIDV Tien Giangs card service income is constantly growing because the Branch focuses on developing businesses operating in industrial parks, which are the source of customers for salary payment products, ATMs, BSMS. Specifically, there are companies such as Freeview, Quang Viet, Dai Thanh, which are businesses with a large number of card openings at the Branch, contributing to the increase in card service fees [25].
Table 2.6. Number of ATMs and POS machines in 2015 of some banks in Tien Giang area.
Unit: Machine
STT
Bank name
Number of ATMs
Cumulative number of ATM cards
POS machine
1
BIDV Tien Giang
23
97,095
22
2
BIDV My Tho
7
21,325
0
3
Agribank Tien Giang
29
115,743
77
4
Vietinbank Tien Giang
16
100,052
54
5
Dong A Tien Giang
26
97,536
11
6
Sacombank Tien Giang
24
88,513
27
7
Vietcombank Tien Giang
15
61,607
96
8
Vietinbank - Tay Tien Giang Branch
6
46,042
38
(Source: 2015 Banking Activity Data Report of the General and Internal Control Department of the Provincial State Bank [21])
Through table 2.6, the author finds that the number of ATMs of BIDV Tien Giang is not much, ranking fourth after Agribank Tien Giang, Dong A Tien Giang, Sacombank Tien Giang. The number of POS machines of BIDV Tien Giang is very small, only higher than Dong A Tien Giang and BIDV My Tho in the initial stages of merging the BIDV system. Besides, BIDV Tien Giang has a high number of cards increasing over the years (table 2.7) but the cumulative number of cards issued up to December 31, 2015 is still relatively low compared to Agribank, Vietcombank, Dong A (table 2.6).
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div.maincontent .s40 { color: black; font-family:Times New Roman, serif; font-style: normal; fo](https://tailieuthamkhao.com/uploads/2022/06/06/dich-vu-phi-tin-dung-tai-ngan-hang-thuong-mai-co-phan-dau-tu-va-phat-8-1-120x90.png)
Pre-tax Profit of Bidv Tien Giang in the Period 2011-2015
zt2i3t4l5ee
zt2a3gsnon-credit services, joint stock commercial bank
zt2a3ge
zc2o3n4t5e6n7ts
At that time, the Branch had to set aside a provision for credit risks, which reduced the Branch's income.
Chart 2.2. Pre-tax profit of BIDV Tien Giang in the period 2011-2015
Unit: Billion VND
140
120
100
80
60
40
20
0
63.3
80.34
89.29
110.08
131.99
2011 2012 2013 2014 2015
Profit before tax
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, through chart 2.2, it can be seen that BIDV Tien Giang's profit is still increasing continuously, and its operating efficiency is currently leaking. This is a contribution of non-credit services, and this service segment will be increasingly focused on growth by BIDV Tien Giang to ensure the highest profit safety because credit activities have many potential risks. At the same time, focusing on developing non-credit services is consistent with one of the contents of restructuring the financial activities of credit institutions in the project "Restructuring the system of credit institutions in the period 2011-2015" approved by the Prime Minister in Decision No. 254/QD-TTg dated March 1, 2012 [14]: "Gradually shifting the business model of commercial banks towards reducing dependence on credit activities and increasing income from non-credit services".
2.2. Current status of non-credit service development at BIDV Tien Giang.
2.2.1. BIDV Tien Giang has deployed the development of non-credit services in recent times.
Along with the development of the Head Office, BIDV Tien Giang's products and services are constantly improved and deployed in a diverse manner to ensure provision for many different customer groups in the area: individual customers, corporate customers, and financial institutions. Typical services are as follows: Payment services, treasury services, guarantee services, card services, trade finance, other services: Western Union, insurance commissions, consulting services, foreign exchange derivatives trading, e-banking services,...
2.2.1.1. Payment services:
In accordance with the Prime Minister's Project to promote non-cash payments in Vietnam [15], banks in Tien Giang province have continuously developed payment services to reduce customers' cash usage habits through card services and electronic banking services such as: salary payment through accounts, focusing on developing card acceptance points, developing multi-purpose cards, paying social insurance by transfer, paying bills through banks, etc.
Chart 2.3. Net income from payment services in the period 2011-2015
Unit: Million VND
6000
5000
4000
3000
2000
1000
0
3922 4065
4720 5084 5324
2011 2012 2013 2014 2015
Net income from payment services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Along with the technological development of the entire system, BIDV Tien Giang has a payment system with a fairly stable transaction processing speed, bringing many conveniences to customers. The results of observing chart 2.3 show that the income from payment services that the Branch has achieved has grown over the years but the speed is not high and the products are not outstanding compared to other banks. Domestic payment products such as: Online bill payment, electricity bills, water bills, insurance premiums, cable TV bills, telecommunications fees, airline tickets, etc. bring many conveniences to customers. Regarding international payment, this is an indispensable activity for foreign economic activities, BIDV Tien Giang is providing international payment methods for small enterprises producing agriculture, aquatic food and seafood that have credit relationships with banks in industrial parks in Tien Giang province such as: money transfer, collection, L/C payment.
2.2.1.2. Treasury services:
BIDV Tien Giang always focuses on ensuring treasury safety and currency security, always complies with legal regulations, and minimizes risks in operations such as: counting and collecting money from customers, receiving and delivering internal transactions, collecting from the State Bank (SBV) or other credit institutions, receiving ATM funds, bundling money, etc. BIDV Tien Giang's treasury service management department is always fully equipped with modern machinery and equipment such as: money transport vehicles, fire prevention tools, money counters, money detectors, magnifying glasses, etc. to ensure absolute safety in treasury operations, immediately identifying real and fake money and other risks that may affect people and assets of the bank and customers. In addition, implementing regulation 2480/QC dated October 28, 2008 between the State Bank of Tien Giang province and the Provincial Police on coordination in the fight against counterfeit money, in the 3-year review of implementation, BIDV Tien Giang discovered, seized and submitted to the State Bank of Tien Giang province 475 banknotes of various denominations and was commended by the Provincial Police and the State Bank of Tien Giang province [17].
Chart 2.4. Net income from treasury services in the period 2011-2015
Unit: Million VND
350
300
250
200
150
100
50
0
105 122
309 289 279
2011 2012 2013 2014 2015
Net income from treasury services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, as shown in Figure 2.4, income from treasury operations is not high and fluctuates. Specifically, in the period 2011-2013, net income increased and increased most sharply in 2013, then in the period 2013-2015, there was a downward trend. This fluctuation is due to the fact that fees collected from treasury services are often very low and can even be waived to attract customers to use other services.
2.2.1.3. Guarantee and trade finance services:
BIDV Tien Giang, thanks to the advantages of the province and the favorable location of the Branch, has continuously focused on developing income from guarantee services and trade finance.
Chart 2.5. Net income from guarantee and trade finance services in the period 2011-2015
Unit: Million VND
14000
12000
10000
8000
6000
4000
2000
0
5193 5695
2742 3420
8889
3992
11604 12206
5143 5312
2011 2012 2013 2014 2015
Net income from guarantee services Net income from Trade Finance
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.5, we can see that BIDV Tien Giang's income from guarantee services and trade finance has grown over the years. The reason is: Among BIDV Tien Giang's corporate customers, the construction industry is the industry with the highest proportion of customers after the trading industry, this is a group of customers with potential to develop guarantee services. The second group of customers is corporate customers in the fields of agricultural production, livestock and seafood processing with high import and export turnover in the area.
are the target of trade finance development. In addition, BIDV Tien Giang also focuses on continuously developing these customer groups to increase revenue for many other products and services in the future.
2.2.1.4. Card and POS services:
As a service that BIDV Tien Giang has recently developed strongly, it can be said that this is a very potential market and has the ability to develop even more strongly in the future. Card services with outstanding advantages such as fast payment time, wide payment range, quite safe, effective and suitable for the integration trend and the Project to promote non-cash payments in Vietnam. Cards have become a modern and popular payment tool. BIDV Tien Giang early identified that developing card services is to expand the market to people in society, create capital mobilized from card-opened accounts, contribute to diversifying banking activities, enhance the image of the bank, bring the BIDV Tien Giang brand to people as quickly and easily as possible. BIDV Tien Giang is currently providing card types such as: credit cards (BIDV MasterCard Platinum, BIDV Visa Gold Precious, BIDV Visa Manchester United, BIDV Visa Classic), international debit cards (BIDV Ready Card, BIDV Manu Debit Card), domestic debit cards (BIDV Harmony Card, BIDV eTrans Card, BIDV Moving Card, BIDV-Lingo Co-branded Card, BIDV-Co.opmart Co-branded Card). These cards can be paid via POS/EDC or on the ATM system. In addition, with debit cards, customers can not only withdraw money via ATMs but also perform utilities such as mobile top-up, online payment, money transfer,... through electronic banking services.
In order to attract customers with card services, BIDV Tien Giang has continuously increased the installation of ATMs. As of December 31, 2015, BIDV Tien Giang has 23 ATMs combined with 7 ATMs in the same system of BIDV My Tho, so the number of ATMs is quite large, especially in the center of My Tho City, but is not yet fully present in the districts. Basic services on ATMs such as withdrawing money, checking balances, printing short statements,... BIDV ATMs accept cards from banks in the system.
Banknetvn and Smartlink, cards branded by international card organizations Union Pay (CUP), VISA, MasterCard and cards of banks in the Asian Payment Network. From here, cardholders can make bill payments for themselves or others at ATMs, by simply entering the subscriber number or customer code, booking code that service providers notify and make bill payments.
Chart 2.6. Net income from card services in the period 2011-2015
Unit: Million VND
3500
3000
2500
2000
1500
1000
500
0
687
1023
1547
2267
3104
2011 2012 2013 2014 2015
Net income from card services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.6, it can be seen that BIDV Tien Giang's card service income is constantly growing because the Branch focuses on developing businesses operating in industrial parks, which are the source of customers for salary payment products, ATMs, BSMS. Specifically, there are companies such as Freeview, Quang Viet, Dai Thanh, which are businesses with a large number of card openings at the Branch, contributing to the increase in card service fees [25].
Table 2.6. Number of ATMs and POS machines in 2015 of some banks in Tien Giang area.
Unit: Machine
STT
Bank name
Number of ATMs
Cumulative number of ATM cards
POS machine
1
BIDV Tien Giang
23
97,095
22
2
BIDV My Tho
7
21,325
0
3
Agribank Tien Giang
29
115,743
77
4
Vietinbank Tien Giang
16
100,052
54
5
Dong A Tien Giang
26
97,536
11
6
Sacombank Tien Giang
24
88,513
27
7
Vietcombank Tien Giang
15
61,607
96
8
Vietinbank - Tay Tien Giang Branch
6
46,042
38
(Source: 2015 Banking Activity Data Report of the General and Internal Control Department of the Provincial State Bank [21])
Through table 2.6, the author finds that the number of ATMs of BIDV Tien Giang is not much, ranking fourth after Agribank Tien Giang, Dong A Tien Giang, Sacombank Tien Giang. The number of POS machines of BIDV Tien Giang is very small, only higher than Dong A Tien Giang and BIDV My Tho in the initial stages of merging the BIDV system. Besides, BIDV Tien Giang has a high number of cards increasing over the years (table 2.7) but the cumulative number of cards issued up to December 31, 2015 is still relatively low compared to Agribank, Vietcombank, Dong A (table 2.6).
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Characteristics of Business Activities and Business Management Organization at Small and Medium Enterprises in Vietnam
(Source: Insurance Management and Supervision Department)
*(2010 data not yet aggregated by business)
185
APPENDIX 14
ORIGINAL INSURANCE COMPENSATION AMOUNT ACCORDING TO INSURANCE BUSINESS OF NON-LIFE INSURANCE MARKET IN THE PERIOD 2010 - 2017
8,000,000
7,000,000
7,309,000 Agricultural Insurance
Business loss insurance
6,000,000
5,805,000
Credit and financial risk insurance
main
General liability insurance
5,000,000
4,303,000
4,000,000
Hull Insurance and Owner's Liability Insurance
ship
Fire and explosion insurance
3,520,000
3,597,000
Motor vehicle insurance
3,207,828 3,223,713
3,000,000
3,083,076
3,141,000
2,893,000
2,717,000
Aviation insurance
2,000,000
2,161,846
1,858,362
2,361,000
2,031,000
Cargo and transportation insurance
1,831,119
1,608,000 Property and casualty insurance
1,289,955
1,284,931
1,372,000
1,000,000
611,596
Health and personal accident insurance
Insurance guarantee
-
2011 2012 2013 2014 2015 2016 2017
(Source: Insurance Management and Supervision Department)
APPENDIX 15
PROFESSIONAL RESERVES SITUATION OF THE WHOLE NON-LIFE INSURANCE MARKET IN VIETNAM IN THE PERIOD 2010 - 2017
Unit: billion VND
Preventive
Year 2010 | Year 2011 | Year 2012 | Year 2013 | Year 2014 | Year 2015 | Year 2016 | Year 2017 | |
Reserve fee | 5,612 | 6,395 | 6,954 | 7,794 | 8,963 | 10,758 | 12,637 | 13,320 |
Claims reserve | 2,769 | 4,274 | 3,684 | 3,389 | 3,220 | 3,583 | 4,329 | 5,072 |
Large fluctuation reserve | 1,045 | 1,101 | 979 | 907 | 1,127 | 1,344 | 1,508 | 1,515 |
Total | 9,426 | 11,770 | 11,617 | 12,090 | 13,310 | 15,685 | 18,474 | 19,907 |
(Source: Insurance Management and Supervision Department)
186
APPENDIX 16
FORMS OF INVESTMENT OF NON-LIFE INSURANCE COMPANIES IN VIETNAM IN THE PERIOD 2010 - 2017
Investment form
Year 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |||||||||
Value (percent) copper) | Proportion (%) | Value (percent) copper) | Proportion (%) | Value (percent) copper) | Proportion (%) | Value (percent) copper) | Proportion (%) | Value (percent) copper) | Proportion (%) | Value (percent) copper) | Proportion (%) | Value (percent) copper) | Proportion (%) | Value (percent) copper) | Proportion (%) | |
Deposits at credit institutions use | 13,136 | 56.98 | 15,467 | 67.41 | 17,209 | 69.71 | 18,702 | 70.45 | 17,845 | 69.50 | 23,864 | 73.07 | 26,184 | 72.88 | 26,097 | 65.88 |
Government bonds | 363 | 1.57 | 460 | 2.00 | 293 | 1.19 | 428 | 1.61 | 1,795 | 6.99 | 1,810 | 5.54 | 3,184 | 8.86 | 1,288 | 3.25 |
Guaranteed corporate bonds | 670 | 2.91 | - | - | 240 | 0.97 | 275 | 1.04 | 623 | 2.43 | 1,050 | 3.22 | 232 | 0.65 | 455 | 1.15 |
Stocks, corporate bonds no guarantee | 1,992 | 8.64 | 3,060 | 13.34 | 2,073 | 8.40 | 2,852 | 10.74 | 2,614 | 10.18 | 2,611 | 7.99 | 2,975 | 8.28 | 2,877 | 7.26 |
Contribute capital to other enterprises | 2,509 | 10.88 | 1,680 | 7.32 | 2,247 | 9.10 | 1,309 | 4.93 | 1,947 | 7.58 | 2,392 | 7.32 | 2,306 | 6.42 | 2,730 | 6.89 |
Real estate business | 646 | 2.80 | 9 | 0.04 | 107 | 0.43 | 126 | 0.47 | 292 | 1.14 | 296 | 0.91 | 496 | 1.38 | 623 | 1.57 |
Loan | 95 | 0.41 | 199 | 0.87 | 126 | 0.51 | 129 | 0.49 | 430 | 1.67 | 32 | 0.10 | 24 | 0.07 | 9 | 0.02 |
Investment trust | 2,081 | 9.03 | 1,962 | 8.55 | 2,234 | 9.05 | 2,502 | 9.43 | - | - | 369 | 1.13 | 400 | 1.11 | 5,111 | 12.90 |
Other | 1,560 | 6.77 | 108 | 0.47 | 159 | 0.64 | 222 | 0.84 | 133 | 0.52 | 235 | 0.72 | 126 | 0.35 | 422 | 1.07 |
Total | 23,052 | 100 | 22,946 | 100 | 24,688 | 100 | 26,545 | 100 | 25,678 | 100 | 32,658 | 100 | 35,927 | 100 | 39,612 | 100 |
(Source: Insurance Management and Supervision Department)
APPENDIX 17
CHARTER CAPITAL OF NON-LIFE INSURANCE COMPANIES IN VIETNAM IN THE PERIOD 2010 - 2017
Unit: Million VND
STT
DNBH | Year 2010 | Year 2011 | Year 2012 | Year 2013 | Year 2014 | Year 2015 | Year 2016 | Year 2017 | |
1 | Bao Viet | 1500 | 1500 | 1800 | 2000 | 2000 | 2000 | 2000 | 2300 |
2 | Bao Minh | 755 | 755 | 755 | 755 | 755 | 830 | 914 | 914 |
3 | Pjico | 709,742 | 709 | 700 | 710 | 710 | 710 | 710 | 887 |
4 | Bao Long | 336.34 | 336,345 | 336 | 336 | 336 | 404 | 500 | 600 |
5 | PVI | 1597 | 1500 | 1700 | 1850 | 2100 | 2100 | 2600 | 2600 |
6 | BVTM | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 |
7 | UIC | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 |
8 | PTI | 450 | 450 | 504 | 504 | 504 | 804 | 804 | 804 |
9 | Groupama | 388,906 | 388,906 | 389 | 389 | 389 | 389 | 389 | 389 |
10 | VBI | 300 | 500 | 500 | 500 | 500 | 500 | 500 | 500 |
11 | Samsung | 300 | 300 | 450 | 500 | 500 | 500 | 500 | 500 |
12 | VASS | 400 | 400 | 170 | 190 | 300 | 300 | 300 | 500 |
13 | BIC | 660 | 660 | 660 | 660 | 762 | 1173 | 1173 | 1173 |
14 | AAA | 675 | 675 | 844 | 813 | 813 | 813 | 813 | 813 |
15 | AIG | 347,386 | 375 | 480 | 627 | 712 | 879 | 1126 | 1126 |
16 | QBE | 300,322 | 300,322 | 300 | 300 | 300 | 300 | 300 | 300 |
17 | ABIC | 380 | 380 | 380 | 380 | 380 | 380 | 380 | 380 |
18 | GIC | 344,621 | 400 | 400 | 400 | 400 | 400 | 400 | 400 |
19 | Phu Hung | 300 | 300 | 300 | 302 | 332 | 337 | 354 | 404 |
20 | Liberty | 702.062 | 994,872 | 1204 | 1204 | 1204 | 1204 | 1204 | 1204 |
21 | Chubb | Not yet signed | Not yet signed | Not yet signed | Not yet signed | 337 | 337 | 337 | 337 |
22 | MIC | 300 | 400 | 400 | 400 | 500 | 500 | 800 | 800 |
23 | VNI | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 800 |
24 | BSH | 300 | 300 | 300 | 300 | 300 | 700 | 700 | 1000 |
25 | BHV | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 |
26 | MSIG | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 |
27 | Fubon | 300 | 300 | 300 | 300 | 500 | 500 | 500 | 500 |
28 | Xuan Thanh | 300 | 300 | 300 | 300 | 300 | 376 | 376 | 680 |
29 | Cathay | Not yet signed | 305,976 | 306 | 396 | 396 | 534 | 534 | 534 |
30 | SGI | Not yet signed | Not yet signed | Not yet signed | Not yet signed | 200 | 600 | 600 | 600 |
(Source: Insurance Management and Supervision Department)
APPENDIX 18
STATISTICS ON THE RELIABILITY OF THE BUSINESS PERFORMANCE SCALE OF NON-LIFE INSURANCE COMPANIES IN VIETNAM
Cronbach's Alpha coefficient
Number of observed variables | |
.767 | 5 |
Item-Total Statistics
Scale TB if the observed variable is eliminated | Variance change if the observed variable is eliminated | Correlation coefficient lowest total variable | Cronbach's coefficient Alpha if the observed variable is eliminated | |
KDBH1 | 13.74 | 6,790 | .545 | .723 |
KDBH2 | 14.15 | 6,581 | .485 | .744 |
KDBH3 | 13.64 | 6.802 | .505 | .736 |
KDBH4 | 14.31 | 6.313 | .527 | .730 |
KDBH5 | 14.29 | 6,197 | .634 | .690 |
(Source: Data analysis results from SPSS software)
APPENDIX 19
DESCRIPTIVE STATISTICS ON BUSINESS ACTIVITIES OF NON-LIFE INSURANCE COMPANIES IN VIETNAM
Descriptive Statistics
Number of votes | About the sea of heaven | Small value best | Great value best | Midpoint jar | Standard deviation | Direction wrong | |
KDBH1 | 225 | 4 | 1 | 5 | 3.79 | .788 | .621 |
KDBH2 | 225 | 4 | 1 | 5 | 3.39 | .905 | .819 |
KDBH3 | 225 | 4 | 1 | 5 | 3.89 | .824 | .680 |
KDBH4 | 225 | 4 | 1 | 5 | 3.22 | .933 | .870 |
KDBH5 | 225 | 4 | 1 | 5 | 3.24 | .860 | .739 |
Valid N (listwise) | 225 |
(Source: Data analysis results from SPSS software)
APPENDIX 20
LEGAL DOCUMENTS RELATED TO BUSINESS ACTIVITIES OF NON-LIFE INSURANCE COMPANIES IN VIETNAM
STT
Text name | Date of issue | Agency promulgate | Text content | |
1 | Circular 03/2010/TT – BTC | 12/01/2010 | Ministry of Finance main | Guidance on the implementation of Decree No. 41/2009/ND-CP regulating sanctions for administrative violations main in insurance business |
2 | Circular 148/2010/TT – BTC | September 24, 2010 | Ministry of Finance main | Guidance on implementing anti-money laundering measures in the fields of insurance, securities and prize-winning entertainment games |
3 | Decision 2011/QD-TTg | November 5, 2010 | Prime Minister | Pilot implementation of export credit insurance |
4 | Law amending and supplementing the Law on Insurance Business 61/2010/QH12 | November 24, 2010 | National Assembly | Law amending and supplementing a number of articles of the Law on Insurance Business No. 24/2000/QH10 |
5 | Order 19/2010/L-CTN | 12/6/2010 | President | Promulgation of the Law amending and supplementing a number of articles of the Law on Insurance Business |
6 | Circular 220/2010/TT-BTC | December 30, 2010 | Ministry of Finance main | Instructions for implementing compulsory fire and explosion insurance |
7 | Circular 219/2010/TT-BTC | December 20, 2010 | Ministry of Finance main | Guidance on criteria for determining reputable insurance organizations in the maritime sector as prescribed in the Ordinance on Procedures for Arresting Ships |
8 | Circular 09/2011/TT-BTC | January 21, 2011 | Ministry of Finance main | Guidance on value added tax and corporate income tax for insurance business |
9 | Decision 315/QD – Prime Minister | March 1, 2011 | Prime Minister | Pilot implementation of agricultural insurance in the period 2011 - 2013 |
10 | Circular 34/2011/TT – BTC | March 14, 2011 | Ministry of Finance main | Amending Circular No. 228/2009/TT-BTC guiding the regime of setting up and using reserves in cargo insurance, construction works at the enterprise |
STT
Text name | Date of issue | Agency promulgate | Text content | |
11 | Decision 624/QD-BTC | March 18, 2011 | Ministry of Finance main | Correction of Circular No. 09/2011/TT-BTC providing guidance on value added tax and corporate income tax for business sectors insurance |
12 | Decision 739/QD-BNN-KTHT | April 13, 2011 | Ministry of Agriculture and Rural Development | Establishment of the Steering Committee of the Ministry of Agriculture and Rural Development to implement the pilot agricultural insurance in the period 2011 - 2013 |
13 | Circular 47/2011/TT-BNNPTNT | June 29, 2011 | Ministry of Agriculture and Rural Development | Guidance on pilot implementation of agricultural insurance in cultivation, livestock and aquaculture according to Decision No. 315/2011/QD-TTg |
14 | Circular 99/2011/TT – BTC | 07/07/2011 | Ministry of Finance | Financial management guidelines for pilot implementation of export credit insurance |
15 | Decision 1675/QD-BTC | July 14, 2011 | Ministry of Finance | Announce reputable insurance organizations in the maritime sector as prescribed in the Ordinance on Ship Arrest Procedures sea 2011 |
16 | Circular 121/2011/TT-BTC | August 17, 2011 | Ministry of Finance | Guidance on some articles of Decision 315/2011/QD-TTg on pilot implementation of agricultural insurance in the period 2011 – 2013 period |
17 | Decision 2174/QD-BTC | 09/09/2011 | Ministry of Finance | Approval of insurance companies to pilot agricultural insurance |
18 | Decree 102/2011/ND-CP | November 14, 2011 | Government | Liability insurance in medical examination and treatment |
19 | Decision 3035/QD-BTC | December 16, 2011 | Ministry of Finance | Issue rules, fees and agricultural insurance liability level |
20 | Decree 123/2011/ND-CP | December 28, 2011 | Main cover | Detailing a number of articles of the Law amending and supplementing a number of articles of the Law on Insurance Business and amending and supplementing Decree 45/2007/ND-CP |