Chairman, Board Members, Supervisory Board of insurance company with capitalization over 3 trillion suddenly resign

The Military Insurance Corporation (MIC, stock code MIG) recently announced that three senior leaders, including Chairman Uông Đông Hưng, and Board Members Nguyễn Thị Thủy and Ngô Bích Ngọc, have submitted their resignation letters for personal reasons. Additionally, two members of the Supervisory Board also resign. Uông Đông Hưng has nearly 20 years of experience in finance and has been Chairman since 2015. This move comes just before the annual shareholders’ meeting scheduled for March 31, 2025, where plans to dismiss and elect new leaders will be discussed. In 2024, MIC reported a revenue of 5.384 trillion VND with a pre-tax profit of 308 billion VND. For 2025, the company targets a 25% growth in insurance revenue and a 75% increase in profit. MIG shares are currently trading at 17,300 VND each, with a market capitalization of over 3.4 trillion VND.