AIA Vietnam, a member of the AIA Group and one of the leading life insurers in the Vietnamese market, has just announced another very successful set of business results for the fiscal year 2015, ended December 31, 2015.
Accordingly, the company’s total premium revenue jumped 43 per cent in 2015, while the first year premium leaped 55 per cent compared to 2014.
Its total asset value reached VND8.3 trillion ($381 million) at the end of 2015, up 22 per cent year-on-year, of this the equity amounted to VND1.32 trillion ($60.7 million). The solvency margin stood at 167 per cent.
With outstanding business growth, asset size, capital and financial strength, AIA Vietnam posted an unparalleled 2015.
AIA Vietnam showed its continued commitment to Vietnam with the purchase of 20-year government bonds, valued at VND1.37 trillion ($62.8 million), issued by the Vietnamese government for the first time in 2015.
“The excellent performance is the direct result of our focus on executing a premier agency strategy, expanding our innovative and market leading agency distribution models across Vietnam, expanding our range of products and significantly growing the partnership distribution business, particularly with our bank partners. The key to sustainable growth is we have our customers at the heart of everything we do,” said AIA Vietnam CEO Wayne Besant.
“We look forward to continuing to lead the market in providing innovative solutions to our customers and agents. We are very excited about the future and will keep striving to make a positive difference to the lives of Vietnamese people,” Besant stressed.
After 16 years of operation, AIA Vietnam has built more than 130 sales offices across the country. At the end of March 2016, AIA Vietnam has paid out a total of more than VND2.1 trillion ($96 million) for insurance benefits on over 310,000 cases.