The Ministry of Public Security issued an arrest warrant on April 23 which also includes two of the insurer’s accountants, Tran Minh Thai and Ta Van Can.
Under the law, an insurance company is not allowed to offer its agents commission on motor vehicle insurance sales, but it was discovered that the commissions were given by Bao Viet in southern Ben Tre province during 2009-2011.
Phuc, Thai and Can allegedly failed to stop the practice, which caused the State an estimated loss of VND4.5 billion (US$211,500).
Duong Duc Chuyen replaced Tran Trong Phuc as Bao Viet’s chief executive on March 31.
Bao Viet is one of the largest insurance companies in Vietnam. It recorded revenue of VND17.6 trillion (US$ 827.2 million) and profit of VND1.6 trillion (US$75.2 million) in 2013.
![[Video] Ho Chi Minh City to offer free bus services from April 30](https://en-cdn.nhandan.vn/images/dcd63867a0eed4c7753eb4bfb346593abc1ce710dfab8ad1b9aebd75ea6bf9308a18476413ebb2c6444053f1f3d631fc7e73e1f3c83809429191b95da12a6364/xe-bus-2.png.avif)
