BMI released FY2017 results with a drop in net income of 10.1% Y-o-Y due to the automobile segment and an unforeseen jump in claims and losses caused by natural disasters. This was significantly short of our expectation of a 22% Y-o-Y increase. Gross written premia (GWP) grew 10% to VND3.4 trillion (USD149.8 million), which was significantly slower than our expectation of 16% growth.