“Military Insurance” honored with noble order

Present at the event were General Phung Quang Thanh, former Politburo member, former Defense Minister; Senior Lieutenant General Pham Ngoc Minh, Deputy Chief of the General Staff of the Vietnam People’s Army; Senior Lieutenant General Le Huu Duc, Chair of the Board of Directors of the Military Joint-stock Commercial Bank (MB), representatives from ministries and central sectors and departments, and from the Hanoi municipal People’s Committee, MB and other domestic and international partners.

Addressing the ceremony, General Minh emphasized that MIC has proved itself as a capable and prestigious unit in insurance management for the Ministry of National Defense’s projects, contributing to ensuring national defense and security.

MIC started its operation 10 years ago with a modest capital of VND 300 billion. Its first-year turnover was just over VND 100 billion.

At present, the corporation’s chartered capital is VND 800 billion, an increase of 2.7 times while its turnover has risen by over 20 times, reaching VND 2,150 billion and its total assets have increased by a factor of 13, to more than VND 3,000 billion.

MIC has offered over 160 insurance products and its dividend has been maintained at 7 to 10 percent per year.

As a young insurance corporation with rapid growth and high prestige, MIC now ranks the sixth in the list of 60 most sustainable and effective general insurance businesses.

Translated by Mai Huong