Profit margin 2022

The information comes from Generali Vietnam’s latest release issued March 16, citing that at a meeting chaired by president Andrea Sironi, the Assicurazioni Generali Board of Directors approved the consolidated financial statements and the parent company’s draft financial statements for the year 2022. Along with this, the group’s gross written premiums rose by 1.5 per cent to $86.7 billion, thanks to the positive performance of the Property and Casualty (P&C) segment, led by the non-motor line. Generali Vietnam has contributed to the group’s performance with strong growth after 12 years of operation The operating result climbed by 11.2 per cent to reach $6.89 billion, thanks to positive growth in the Life, P&C, and Holdings and other businesses segments. The Life segment grew strongly by 25.1 per cent to reach $3.73 billion, reflecting excellent technical profitability, which was also confirmed by the new business margin at 5.35 per cent – up 0.86 … [Read more...] about Generali Group touts best-ever operating results in 2022

A customer examining a vehicle insurance product at Bao Viet Insurance Group’s office. The potential growth of vehicle insurance is high car travel increase. — VNA/VNS Photo Experts have predicted that the health and vehicle insurance sectors will continue to serve as the primary growth drivers for non-life insurance in Viet Nam this year. Data from the Vietnam Insurance Association reveals that non-life insurance and health insurance comprised the largest proportion of the insurance industry's premium revenue last year, accounting for approximately 33.2 per cent, with revenue of VND22.41 trillion. This represented a 24.3 per cent increase from the same period in 2021. In the meantime, vehicle insurance generated a revenue of VND18.1 trillion, comprising 26.8 per cent of the overall market revenue and witnessing an 11.9 per cent growth rate over the same period in 2021. Health and vehicle insurance products are expected to continue to increase this year, especially when the … [Read more...] about Health and vehicles to be main growth drivers for non-life insurers in 2023

Illustrative image (Photo: Bao Viet) Hanoi (VNS/VNA) - Experts have predicted that the health and vehicle insurance sectors will continue to serve as the primary growth drivers for non-life insurance in Vietnam this year. Data from the Vietnam Insurance Association reveals that non-life insurance and health insurance comprised the largest proportion of the insurance industry's premium revenue last year, accounting for approximately 33.2%, with revenue of 22.41 trillion VND. This represented a 24.3% increase from the same period in 2021. In the meantime, vehicle insurance generated a revenue of 18.1 trillion VND, comprising 26.8% of the overall market revenue and witnessing an 11.9% growth rate over the same period in 2021. Health and vehicle insurance products are expected to continue to increase this year, especially when the awareness of people and economic organisations about the role of insurance continues to be improved. Regarding health insurance, the … [Read more...] about Health, vehicles main growth drivers for non-life insurers in 2023

Its revenues were VND1.579 trillion ($67.15 million) and earnings before interest, taxes, depreciation, and amortization (EBITDA) were VND195 billion, the highest gross profit margin in the industry, according to Masan’s newly published annual report. Highland Coffee had revenues of over VND2 trillion a year in 2019 and 2020. Phuc Long opened 23 large flagship stores and two mini shops in the last quarter of 2022, increasing their total numbers to 111 and 21. They represented a near doubling of numbers from 2021 when Masan first bought stakes in Phuc Long. The flagship stores achieved very high profit margins of 31% in 2022 and 26% in 2021. Last year they reported sales of VND1.1 trillion and profits of VND330 billion. But Phuc Long had to close 150 tea and coffee kiosks located inside WinMart retail stores, also belonging to Masan, in the second half of 2022, the annual report said. "We are adjusting this model (opening tea and coffee kiosks in WinMart stores) in the first … [Read more...] about How tea chain Phuc Long fared in the year after Masan takeover

A rice field in Vi Thuy district in the Mekong Delta province of Hau Giang. Vietnam will benefit from the upward trend in rice prices due to limited supply. (Photo: VNA) Hanoi (VNS/VNA) - The Vietnamese rice industry is set to benefit from the high demand and prices this year, with lower input costs leading to expanded profit margins for rice businesses . According to an expert from Vietnam Securities Company Limited Bank for Foreign Trade (VCBS), the country's rice industry enjoys favourable factors, such as weather and geographical advantage. The prolonged drought in China has caused a decrease in the country's output for the 2021-2022 crop, leading to an anticipated six million tonne increase in rice imports for the 2022-23 crop. Meanwhile, inventories in the Philippines have declined due to typhoons and high fertiliser costs, leading to increased rice imports . The cultivated area in India has also dropped due to drought, making the decrease in supply - the main … [Read more...] about 2023 set to be favourable for Vietnamese rice enterprises