- 2021-10-19T00:00:00
- Company Research
BMI released consolidated results for 9M 2021 with gross written premium of VND3.6tn (USD155mn; +2.7% YoY) and NPAT-MI of VND188bn (USD8.2mn; +18.9% YoY), achieving 69.3% and 74.8% of our FY2021 forecasts, respectively. The increase in the bottom line was mainly due to (1) a 3.5% YoY decrease in underwriting expense, (2) 2.4% YoY decrease in claims and reserves and (3) 13.8% YoY increase in net financial income that was partly offset by a 2.2% YoY decrease in net earned income.
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