Dai-ichi Life’s new lease of life

October 27, 2011 | 15:00

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Dai-ichi Life Vietnam premiums soared in 2011’s first nine months, driving by the Japan-backed insurer’s strong agency growth.

Total premiums and investment increased 23 per cent to VND798 billion ($38.9 million), according to the insurer’s financial announcement. Among them, new annualised business premiums jumped 47 per cent year-on-year to VND335.5 billion ($16.2 million).

Total claims paying out to customers amounted to VND332 billion ($16 million), up 48 per cent against last year’s same period.

Takashi Fujii, Dai-ichi Life Vietnam’s chairman, attributed the strong premium growth to his firm’s strong agency growth, adding that the firm would keep the momentum up to the end of the year.

Dai-ichi Life Vietnam increased interest amount for one among its insurance product, named An Thinh Chu Toan, by VND6.5 billion ($31,400). The product previously had applied the highest interest rate of 11 per cent as compared with the average rate of 8-10 per cent applied for the universal life product range in the market.

During 2011’s first nine months, the four-year-established insurer, which has diversified its distribution channel, has expanded its general agency in five additional southern provinces, focusing on underserved markets.a

By Hai Linh

vir.com.vn

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