THE OVERVIEW OF BAO LONG INSURANCE CORPORATION
INTRODUCTION OF BAO LONG INSURANCE CORPORATION
On July 11, 1995, Bao Long Insurance Joint Stock Corporation, known as Nha Rong Insurance Joint Stock Company, was founded and officially launched into the insurance market.
The Ministry of Finance has issued Bao Long the Certificate No. 05TC/GCN, confirming eligibility and conditions for insurance business activities. Bao Long is Vietnam’s first joint-stock company to operate in the sector of non-life insurance.
On May 14, 2012, the Ministry of Finance issued the Adjustment Certificate No. 05/GPĐC16/KDBH approved the renaming of Nha Rong Insurance Joint Stock Company to Bao Long Insurance Joint Stock Corporation (Bao Long).
After 30 years of operation and development, Bao Long has been fully capable to meet all insurance demands of clients based on 46 member companies, nearly 800 insurance agents, and solid financial capacity, as well as professional and experienced staff.
INFORMATION OF BAO LONG INSURANCE CORPORATION
-
International name:
BAO LONG INSURANCE CORPORATION
-
Transaction name:
BẢO HIỂM BẢO LONG
-
Abbreviation name:
BAO LONG
-
Business Registration Certificate:
No. 059614 registered on 2 August 1995 issued by Ho Chi Minh City Department of Planning and Investment(formerly known as Ho Chi Minh City’s Committee of Planning)
-
Address:
185 Dien Bien Phu Street, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam
-
Telephone number:
(84.28) 38 239 219
-
Fax:
(84.28) 38 228 967
-
Website:
www.baolonginsurance.com.vn
-
Transaction account:
156 01 0126637 0001 Saigon Commercial Bank (SCB) Pham Ngoc Thach Branch, HCMC
-
Charter Capital:
600,000,000,000 VND(Six hundred billion VND)
SLOGAN COMPANION
SHARING
Bao Long has been constantly improving to bring the best services to clients. Along with Vietnam’s economic development, Bao Long has been happy to accompany Vietnamese investors to expand insurance market to regional countries such as Laos, Cambodia, Myanmar…
VISION
To become one of the most trusted insurance companies
MISSION
To create a peaceful and prosperous community
CORE VALUES
Person-centered
Righteous staff
Constantly innovating
COMMITMENTS
TO CLIENTS: Understanding clients’ demands; Providing well-crafted solutions; Ensuring fast & accurate service delivery.
TO PARTNERS: Long-term cooperation, sharing the goal of mutual development.
TO SOCIETY: Comply with the law, participate actively in community events, and contribute to the improvement of society.
TO EMPLOYEES: uilding a friendly, dynamic and professional working environment, ensuring the fair treatment and facilitating development for all employees.
TO OURSELVES: Constantly striving, innovating, and improving.
OPERATIONAL NETWORK
TOTAL SUBSIDIARIES
0
COMPANIES
TOTAL INSURANCE AGENTS NATIONWIDE
~0
INSURANCE AGENTS
TOTAL TRANSACTION POINTS
0
TRANSACTION POINTS
SHAREHOLDERS AND PARTNERS
SHAREHOLDERS
Bao Long is honored to have shareholders being prestigious organizations in the fields of banking, finance, insurance and services in Vietnam. Currently, Saigon Commercial Joint Stock Bank (SCB), Vietnam Export-Import Commercial Joint Stock Bank (Eximbank) are major shareholders of Bao Long.
PARTNERS
During the journey of trading insurance, Bao Long is honored to collaborate with major partners in many different fields such as:
Banking: The leading banks such as: TPBank, Sacombank, OCB, SCB, Eximbank, BVBank, VietBank, KienLongbank, NCB and others.
Traditional insurance distribution channels: The leading brokerage firms in the market, such as Aon, Marsh, Willis Towers Watson, Aegis, Hung Nghiep Insurance Broker, and others.
Non-traditional insurance distribution channels, digitalizing personal insurance products: Viettel, MSH, Momo, Shopee, FUSE, ZaloPay, Livwell, VNPT, Digiin and others.
Reinsurance: Additionally, Bao Long has effectively collaborated with and received strong support from major global reinsurers, including Arundo Re (formerly CCR Re), R+V Re, SCOR Re, Korean Re, Canopius, Hannover Re, Saudi Re, and others.
ESTABLISHMENT AND DEVELOPMENT HISTORY
Bao Long focused on refining its organizational structure to develop a highly knowledgeable workforce and enhance service quality. The Company also advanced its IT infrastructure to support digital transformation, optimizing operational processes, products, and services to deliver improved experiences for customers and partners.
Bao Long expanded its business development and customer networks by establishing Business Centers in key regions. Additionally, the Company strengthened its HR structure, prioritizing employee training and nominating staff for professional certification exams as required by the Ministry of Finance to enhance their expertise. Bao Long was honored with the Top 10 Vietnamese Strong Brands and ranked among the Top 500 Largest Companies in Vietnam.
Bao Long continues to strengthen its leadership team, while recruiting and developing its sales force through comprehensive employee support programs. The Company prioritizes enhancing training for a highly experienced workforce to provide expert advisory services to clients. Bao Long is honored to receive the Top 10 Vietnamese Strong Brands and Top 10 Good Quality Products Trusted by Vietnamese.
Launched several products and services under international quality, and focused on digital media coverage. Bao Long has been honored to receive Top 10 Vietnamese Strong Brands and Top 10 ASEAN Strong Brands.
Bao Long marked the 25th anniversary by many outstanding activities such as the successful organization of the talk show “Creating a peaceful and prosperous community”, the implementation of the promotional program “Bao Long - For a peaceful and prosperous community” with a total prize value of 25 SJC gold taels, and the launch of the product package for international cancer treatment named Global Cancer Care under the program “Bao Long - Our attention on you”, as well as numerous other community-oriented activities. Bao Long has been honored to receive the Top 10 ASEAN Strong Brands and Vietnam Trusted & Used awards.
In 2019, Bao Long continued to strengthen the organizational structure, and segmenting for business operations into 2 regional business centers and 9 regions stretching from North to South. Bao Long also continues to receive the Strong Brand and Vietnam Trusted & Used awards.
With the objective of CHANGE TO REACH NEW HEIGHTS, Bao Long achieved a remarkable revenue of 1,092 billion VND, exceeding the threshold of 1,000 billion VND, and recording Bao Long’s new height in the Vietnam insurance market.
On April 7, 2017, Bao Long officially enhanced its charter capital from 500 billion VND to 600 billion VND according to the Adjustment License No. 71/GPDC18/KDBH issued by the Ministry of Finance. In the same year, Bao Long established 05 more branches, increased total branches to 46 and continued to receive award Top 10 Most Prestigious Insurance Company.
Bao Long continued to increase charter capital from 404 billion VND to 500 billion VND according to the amended license No. 71/GPD9C9/KDBH issued by Ministry of Finance, established 11 more member units, and raised its total to 41. In 2016, Bao Long was honored to be voted as Top 10 Most Prestigious Insurance Company in Vietnam.
On December 11, 2015, over 40.3 million shares of Bao Long Insurance Corporation (CPs) were officially traded on UPCOM, with stock code BLI. In the same year, Bao Long celebrated 20th anniversary and enlarged charter capital to 404 billion VND, established 9 more member units to its total of 30. Bao Long also was honored to earn the award “Best Insurance Service in Vietnam 2015” voted by the UK’s Global Banking and Finance Review Awards.
The year 2014 marks a watershed moment for Bao Long, as the shareholder structure undergoes significant changes. On April 14, 2014, The Ministry of Finance approved the establishment and operation license No. 71/GP/KDBH approving Saigon Commercial Joint Stock Bank to become a strategic shareholder of Bao Long. Bao Long added two additional member units this year, bringing the total to 21.
In 2013, Bao Long expanded the business network by establishing 6 more member companies, increased total member units of Bao Long to 19 units.
On May 14, 2012, the Ministry of Finance issued Amended License No.05/GPĐC16/KDBH to approve the re-branding of Nha Rong Insurance JSC into Bao Long Insurance Corporation.
On July 11, 1995, Bao Long Insurance Joint Stock Corporation (previously known as Nha Rong Insurance Joint Stock Company) was founded and began operations. Bao Long was the first insurance JSC operating in Vietnam’s non-life insurance field.
SHARES AND SHAREHOLDERS INFORMATION
SHARES INFORMATION
on December 31, 2024:
Charter capital:
0
VND
- Stock’s name: BAO LONG INSURANCE CORPORATION STOCKS
- Charter capital: 600,000,000,000 VND
- Owner’s equity: 600,000,000,000 VND
- Outstanding shares: 59,999,474 shares
- Treasury shares: 526
- Par value share 10,000 VND/share
- Number of listed shares: 60,000,000 shares
SHAREHOLDERS STRUCTURE
Unit: shares
| Type of Shareholder | Domestic | Foreign |
|---|---|---|
| Individual | 5,598,960 | 186,088 |
| Institution | 53,784,373 | 430,053 |
| Total | 59,383,333 | 616,141 |
2024 SIGNIFICANT EVENTS
In 2024, despite global challenges, the economy is steadily recovering. In line with this, Vietnam is advancing into a new era, embracing technology across sectors. Bao Long remains at the forefront, driving innovation and enhancing its IT infrastructure to better serve customers. This marks the beginning of a new phase, positioning Bao Long to lead breakthroughs in the digital insurance market.
February 17, 2024
With great optimism for the new year, Bao Long’s Leadership team visited and extended Lunar New Year greetings to its member companies.
April 21, 2024
On April 21, 2024, Bao Long was honored at ASEAN Strong Brands Award 2024 Announcement Ceremony, organized by the Asia Industrial Information Association (AIPA), the Anti-Counterfeiting Center, the Association for Anti-Counterfeiting and Brand Protection, in collaboration with international organizations.
June 10, 2024
On June 10, 2024, in Ho Chi Minh City, Bao Long Insurance Corporation and the Livwell health care application signed a partnership agreement, marking a key development in creating a comprehensive health care ecosystem for customers.
June 22, 2024
On June 22, 2024, Bao Long partnered with the Ho Chi Minh City Student Support Center to carry out the Support During Exam Season program, aimed at assisting candidates and their families at university exam venues.
June 27, 2024
On June 27, 2024, Bao Long Insurance Corporation successfully held its Annual General Meeting for 2024, with participation from the Board of Directors, Supervisory Board, Board of Management, and shareholders.
July 10 - July 12, 2024
From July 10 to 12, 2024, Bao Long organized the Financial Year 2024 Annual Review Conference in Khanh Hoa province, with the participation of all Bao Long leadership and staff from the headquarters. During this conference, the Bao Long’s Board of Management officially launched a series of events to celebrate the 30th anniversary of the corporation’s establishment.
THE AWARDS
2006
- Golden cup “Vietnamese Brand”
2009
- Certificate of “Merit for enterprises having outstanding contributions to the development and improvement of Vietnam insurance market’s operational efficiency”
2012
- Top 20 “The Vietnam Golden Service”
2015
- Certificate of merit from the Ministry of Finance “For many achievements in business activities, contributing to building and developing the insurance market in the period from 2010 to 2015”
- The trophy and certificate of “Vietnam’s Best Insurance Service” voted by UK’s Global Banking & Finance Review
2016
- The trophy and certificate of “Strong Vietnam Trade in 2015” voted by the Vietnam Economic Times
- Top 10 “Prestige Insurance Company of Vietnam”
2017
- The trophy and certificate of “Strong Vietnam Trade in 2016” voted by the Vietnam Economic Times
- Top 10 “Prestige Insurance Company of Vietnam”
- Top 20 “Sustainable Development Brand”
- Top 20 “High-quality products and services 2017 for Bao Tam An insurance product”
2018
- The trophy and certificate of “Strong Vietnam Trade for 3 years consistently” voted by the Vietnam Economic Times
- Top 10 “Most prestigious Vietnam insurance companies in three consecutive years”
- Top 500 “Vietnam’s Major Businesses - Fortune 500 Model 4 years of continuous service”
2019
- The trophy and certificate of “Strong Vietnam Trade” voted by the Vietnam Economic Times
- The trophy of “Vietnam Use and Trust Branding”
- Top 500 “The Vietnam’s Fastest Growing company - Fortune 500 Model”
2020
- The trophy and certificate of “Strong ASEAN Trade”
- The trophy of “Vietnam Use and Trust Branding”
2021
- The trophy and certificate of “Strong ASEAN Trade”
- The trophy and certificate of “Strong Vietnam Trade”
- The trophy of “Vietnam Use and Trust Branding”
2022
- The trophy and certificate of “Strong Vietnam Trade”
- Top 10 “Excellent Products Trusted and Used By Vietnamese 2022”
2023
- The trophy and certificate of “Strong Vietnam Trade”
- Top 500 “Vietnam’s Major Businesses - Fortune 500 Model”
2024
- The trophy and certificate of “Strong ASEAN Trade”
ORGANIZATIONAL STRUCTURE
BOARD OF DIRECTORS
MR. NGUYEN THANH LONG
Chairman of Board of Directors
MR. PHAN QUOC DUNG
Standing Vice Chairman of
Board of Directors cum CEO
MR. NGUYEN VAN HUNG
Vice Chairman of Board of Directors
MS. PHAM MINH CHAM
Member of the Board of Directors
cum Vice Chief Executive Officer
MR. LAI QUOC PHONG
Member of the Board of Directors
MR. HA THE DINH
Member of the Board of Directors
MS. NGUYEN HO THU THUY
Member of the Board of Directors
MS. TRINH THI THANH
Member of the Board of Directors
MR. PHAN QUOC DUNG
Standing Vice Chairman of
Board of Directors cum CEO
MS. PHAM MINH CHAM
Member of the Board of Directors cum Vice Chief Executive Officer
MR. HA MINH HIEU
Chief Accountant
MR. MAI HONG VIET
Vice Executive President
MR. TRAN THANH NAM
Vice Executive President
MR. NGUYEN NGOC LAN
Vice Executive President
MS. LE THANH HANG
Vice Executive President
MR. HA HOANG GIANG
Vice Executive President
MR. MAI XUAN THAO
Vice Executive President
MS. NGUYEN THUY HANG
Director of Support Division
cum Head of Board of Directors’ Office
GOALS IN 2025
2025 marks the third year of Bao Long’s implementation of its 2023-2027 business strategy. Amid rising global political and economic risks and a domestic economy still in the recovery phase, Bao Long will continue to focus on core issues, prioritizing system stability and operational safety. Key goals include effective risk control, sustained operational efficiency, IT system enhancement, and the strengthening of human resources and organizational cohesion.
Effective risk control
Sustained operational efficiency
IT system enhancement
Strengthening of human resources
Organizational cohesion
The goals for 2025 are aligned with the 2023-2027 development strategy, emphasizing three strategic priorities:
Technologization
Operational capacity
Culture and brand name
RISKS AND RISK MANAGEMENT
Bao Long proudly marks its 30th anniversary, a significant milestone in its development. Over the past three decades, Bao Long has strengthened its risk management system, successfully guiding, assessing, monitoring, and mitigating risks. This system has been crucial in safeguarding and sustaining Bao Long’s growth. We now reflect on the critical contributions of risk management in Bao Long’s development.
Developing risk management policy and strategy
Since its inception, Bao Long has established clear, transparent policies and strategies that define key risks, associated business activities, risk appetite, and management approaches for each risk type. These frameworks have been pivotal in navigating challenges, ensuring stability, and driving sustained revenue growth.
Identifying and assessing risks
Risk identification and assessment are integral to the risk management process. Bao Long continuously refines its methods, leveraging market analysis, partner evaluations, government policy updates, and monitoring the impact of natural disasters and diseases. This enables the Company to proactively address emerging risks.
Applying preventive measures
Following risk identification and assessment, Bao Long implements targeted preventive measures to mitigate potential impacts. This includes introducing new regulations, strengthening information security policies, enhancing risk management protocols, investing in advanced technologies, promoting digital transformation, and training personnel in risk management.
Managing risks
Effective risk management is crucial for navigating challenges. Over the past 30 years, Bao Long has addressed various issues, including global financial crises, diseases, and natural disasters. Through comprehensive risk management plans and the collaborative efforts of all employees, Bao Long has successfully overcome these challenges and sustained its strong growth.
Implementing a Quality Management System
The ISO 9001 quality management system is a recognized framework for risk assessment and cost reduction, adopted by leading global companies. It also enhances customer trust, strengthens Bao Long’s reputation, and creates new opportunities.
Risk management has been crucial to Bao Long’s 30-year development. The consistent implementation of risk management practices, coupled with ongoing enhancement of skills and culture, has enabled Bao Long to overcome challenges and achieve significant success, ensuring a strong foundation for the future.