Vietnam National Aviation Insurance Corporation (VNI) recorded a net loss of up to VND35 billion (US$1.5 million) for the first quarter of this year.
The corporation has just released its financial statements.
The main reason is attributed to the increasing cost of insurance business activities by 33 per cent year-on-year to over VND241 billion. That of the same period last year was VND181.3 billion.
Financial income dropped by 64 per cent from VND18.7 billion last year to VND6.8 billion.
Meanwhile, VNI spent more than VND11.4 billion on this activity, causing a gross loss of nearly VND5 billion.
However, its insurance premium revenue grew by 28 per cent to nearly VND296 billion.
VNI was established in 2008, operating in the field of non-life insurance, reinsurance and financial investment.
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