BIC is rated by international organization AM Best as having good financial capacity.

In particular, in 2023, AM Best will add a national credit rating (National Scale Rating - NSR) applicable to each country's market, converted from the rating results according to international standards. Accordingly, BIC's 2023 rating after conversion is ranked domestically at aaa.VN, the highest level in Vietnam. The outlook for the upgrade of the indicators is Stable.

The above rating results were announced by AM Best based on positive assessments of BIC's operational aspects, including: financial capacity, business results, operational efficiency, capacity profile and risk management system.

BIC's financial capacity is measured through the capital adequacy ratio (BCAR), which is highly appreciated by AM Best. In 2023, BIC will continue to maintain a prudent, safe and effective investment strategy. BIC's performance indicators are assessed by AM Best as positive. During the period 2018 - 2022, BIC's average return on equity (ROE) was 11.9%, the combined cost ratio was 95.5%, helping BIC have good profits from insurance business activities.

AM Best's press release also said that BIC's risk management framework is assessed by AM Best as appropriate to its scale and operational reality, and is continuously strengthened with the support of parent bank BIDV and strategic partner FairFax.

Le Thanh