30/12/2010
recently gave BIC the go-ahead to establish 2 new wholly-owned
subsidiaries: BIC Bac Bo (92C Hung Vuong, Nam Dinh City, Nam Dịnh Province) and BIC Sai Gon (472 Nguyen Thi Minh Khai, District 3, Ho Chi Minh City).
In BIC’s opinion, the four northern provinces of Nam Dinh, Ninh Binh, Thai Binh, and Ha Nam have huge growth potential, an under-exploited market and similar consumer tastes. The establishment of a new subsidiary in these four provinces besides improving BIC’s nationwide coverage will also help BIC in authorizing and localizing performance; bring services closer to consumers and improve customer services and marketing activities.
Ho Chi Minh City is one of the largest insurance markets in the country. It represents a key battleground for insurance companies, with some companies operating 2-3 branches in the city. To increase competitiveness, BIC Sai Gon will apply an international-standard business model. BIC Sai Gon will focus on building and developing the insurance brokering and the foreign investment market segment.
With the BIC Bac Bo and BIC Sai Gon subsidiaries, BIC now has 21 wholly-owned subsidiaries and 75 business offices in the country.
