Chubb Life Insurance Vietnam Co., Ltd. has secured two more reputed awards, the Top 10 Most Reputable Insurance Companies 2020 and the Top 500 Fastest Growing Enterprises in Vietnam 2020 (FAST500).
This is the fifth consecutive year that Chubb Life Vietnam is ranked among the top 10 most prestigious life insurers, leveraging the company’s financial strength, excellent business operations, exceptional product portfolio and customer service. Award-winning companies have to meet specific criteria, including financial capability, a media coding evaluation, and pass comprehensive surveys from customers, insurers, and industry experts.
|Nguyen Kim Cuc, territory vice president, Executive Agency Management of Chubb Life Vietnam received the Top 10 Most Reputable Insurance Companies 2020 award |
2020 also marks the third year running that Chubb Life Vietnam retains its FAST500 title, ranking second out of seven award-winning insurers and 79th of companies overall.
The results are based on Vietnam Report’s independent research and assessment under the compound annual growth rate (CAGR) criteria in terms of revenue and business efficiency over the last four years.
Other features such as total assets, total employment, after-tax net profit, corporate reputation in the media, company’s size, and market influence are also assessed.
|Nguyen Van Thu, regional senior director, Agency Management and Development of Chubb Life Vietnam received the Top 500 Fastest Growing Enterprises in Vietnam 2020 (FAST500) award |
“Chubb Life Vietnam always prioritises a sustainable development strategy, focusing on business efficiency, strengthening corporate reputation, and continually improving product and service quality for customers, while delivering excellent benefits,” said Lam Hai Tuan, chairman and country president of Chubb Life Vietnam.
|Chubb Life Vietnam’s development strategy prioritises technology implementations to stay ahead and grow its market position in the digital age. |
“Being named as one of the top 10 insurers and top 500 fastest growing enterprises is proof of Chubb Life Vietnam’s outstanding leadership. It is also a recognition of our company’s positive contribution towards the growth of the industry and Vietnam’s economic development,” Tuan added.
According to the company’s consolidated financial statements for last year, the company achieved double-digit growth across all business indicators. Specifically, its total gross written premium increased by 17 per cent and pre-tax profit was up 50 per cent on-year.
It also maintains a high solvency ratio of 246 per cent beyond the regulatory requirement. In addition, Chubb Life Vietnam has paid more than VND161 billion ($7 million) in tax and other obligations.
Chubb Life Vietnam’s development strategy prioritises technology implementations to stay ahead and grow its market position in the digital age.