Enterprise

Bảo Long Insurance Escapes Q3 Loss Despite Stagnant Premium Revenue

Baoviet Insurance Corporation (UPCoM: BLI) has reported a remarkable turnaround in its financial performance for Q3 2025. The company achieved a net profit of nearly VND 25 billion, a significant improvement from the VND 9 billion loss incurred during the same period last year, which was primarily attributed to the impact of natural disasters and severe flooding. This positive result is largely due to the reduction in overall operating expenses related to insurance business activities.

Administrator

28 October, 2025

Source: VietstockFinance

According to the Q3 2025 financial report, BLI recorded nearly VND 303 billion in gross insurance premiums and over VND 50 billion in reinsurance premiums, marking a 7% and 6% increase year-over-year, respectively. However, net insurance revenue remained flat at VND 311 billion due to a corresponding rise in reinsurance costs.

Despite stagnant revenue, insurance operations saw a 2.2x surge in profits compared to the same period last year, reaching VND 63 billion. BLI attributed this to a 12% reduction in total expenses to VND 247 billion, with claims expenses dropping significantly by 28% to VND 118 billion.

Thanks to improved core insurance performance and reduced management costs, BLI turned a net loss of VND 9 billion in Q3 2024 into a net profit of VND 19 billion, despite a 17% decline in financial profits to VND 15 billion.

For the first nine months, gross insurance profits rose 28% year-over-year to VND 201 billion, driven by cost reductions amid stable revenue. Conversely, financial activities underperformed, with gross profits falling 40% to VND 44 billion due to a 28% drop in deposit interest and the absence of VND 11 billion in investment securities gains from the previous year.

Despite lower financial profits and a 3% uptick in management costs to VND 177 billion, BLI achieved a 13% increase in net profit to VND 53 billion, fueled by its insurance segment.

For 2025, BLI targets pre-tax profits of over VND 56 billion, a 32% decrease from 2024. After nine months, the company has already surpassed its annual plan by 21%.

As of Q3, BLI‘s total assets reached nearly VND 2.7 trillion, up 3% year-to-date. Deposits accounted for 58% of total assets, totaling over VND 1,541 billion (up 8%).

Specifically, term deposits at the parent company, Saigon Commercial Bank (SCB), and major shareholder, Vietnam Export-Import Bank (Eximbank), stood at over VND 1.2 trillion and VND 23 billion, respectively, reflecting a 4% increase and a 47% decrease year-to-date. These deposits generated VND 31 billion (down 28%) and VND 1 billion (down 52%) in interest income for BLI over nine months.

BLI‘s total liabilities exceeded VND 1.7 trillion, primarily short-term. Short-term provisions dominated, totaling over VND 1.2 trillion (72% of liabilities), up 4% year-to-date.

Khang Di

– 12:01 27/10/2025