We revise our target price for BVH from VND74,000 to VND88,250, indicating a MARKET PERFORM rating and a total upside of 8.3%, including a 1.2% dividend yield. 2017 net profit surged 39% Y-o-Y thanks to the highest growth in GWP since 2008 at 25.9% Y-o-Y, mainly thanks to the life segment and stabilizing math reserve expenses.