BMI released consolidated results for H1 2021 with gross written premium of VND2.4tn (USD106mn; +7.0% YoY) and NPAT-MI of VND120bn (USD5.2mn; +31.6% YoY), achieving 47.1% and 53.4% of our FY2021 forecasts, respectively. The increase in the bottom line for the first half of 2021 was mainly due to (1) a 7.0% YoY rise in gross written premium, (2) 12.3% YoY drop in underwriting expenses and (3) 31.9% YoY increase in net financial income.