Its consistent underwriting profits are thanks to business sourced through bancassurance.
BIDV Insurance Joint Stock Corporation (Vietnam) (BIC) is expected to continue benefitting from good internal capital generation and a reinsurance programme mitigating risks.
The Vietnam-based insurer’s capitalisation is supported by consistent earnings, and a low-to-moderate dividend payout ratio, said AM Best. It also has a conservative investment strategy.
“In addition, BIC’s exposure to large risks and natural catastrophes is mitigated partially through its reinsurance programme, whereby its reinsurance counterparties are generally of good credit quality,” the credit rating agency said in a rating announcement on 24 September 2026.
BIC has consistent underwriting profits, mainly attributable to its personal accident and health insurance business, sourced through bancassurance, AM Best said.
AM Best expects that the company’s stable stream of interest income from term deposits and fixed-income holdings will remain an important contributor to its overall earnings.
BIC’s risk management framework and capabilities, meanwhile, benefit from a level of technical support, expertise, and oversight provided by its parent company, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and its minority interest shareholder Fairfax Asia Limited.