An auto and motorbike insurance company was fined 200 million VND for misleading advertising

According to information from the National Competition Commission (Ministry of Industry and Trade) on July 10, this agency decided to fine DBV Insurance Group Joint Stock Company 200 million VND for unfair competition behavior.

The enterprise was determined to violate the provisions of the Competition Law 2018 on the act of providing misleading information to customers in order to attract customers of other enterprises.

Specifically, DBV has used the promotional information “Top 1 Motor Vehicle Insurance” and “No. 1 Motor Vehicle Insurance in Vietnam”. According to the competition authority, this information is not accurate and can mislead customers about the business’s position in the market.

In addition to imposing a fine, the National Competition Commission forced DBV to publicly correct misleading information on the business’s official website and Facebook page.

To date, DBV has fully paid the fine into the state budget and made public corrections at the request of the management agency.

DBV is a non-life insurance enterprise, formerly known as Aviation Insurance Joint Stock Corporation (VNI). From May 2025, the business will change its name to DBV Insurance Group.

The enterprise currently sells motor vehicle, health, property, cargo, boat, engineering and liability insurance products, with 105 branches and representative offices across the country.

By the end of April, DBV was in the group of 4 businesses with the largest primary insurance revenue in the market. Original insurance premium revenue is estimated at 1,963 billion VND, accounting for about 6% of the market share, up 95.6% over the same period. In the revenue structure, motor vehicle insurance – the field related to sanctioned advertising content – continues to be the main business with revenue of 1,380 billion VND.