Manulife Vietnam continues strong growth in the second quarter of 2012

August 27, 2012 | 09:36

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Manulife Vietnam, a top-three life insurer in Vietnam, has reported strong second quarter growth with total premiums and deposits increasing by 29 per cent and the annualiszed premium equivalent (APE) increasing by 26 per cent over the same quarter last year.

The business result achieved in the second quarter is strong evidence of the company’s determination in business development and market expansion.

“The success of the first quarter inspired all our agency force and employees to strive even harder for strong growth in the second. With our strategy of diversifying our life-insurance product portfolio and providing customer services of international standards, we aim to become a key financial support for Vietnamese customers,” said Chung Ba Phuong, CEO and general director of Manulife Vietnam.

In support of this strategy, Manulife Vietnam has heavily invested in a world-class professional agency force. By the end of the second quarter, the company had developed a nationwide network of around 12,000 agents. “Manulife Vietnam is committed to providing strong support to the agency force to help them achieve career success, as their own success is also the company’s. This is an important part in our business development strategy,” Phuong added.

Operating in Vietnam since June 1999, Manulife Vietnam – the first 100 per cent foreign-owned life insurance company licenced in Vietnam – provides financial services to nearly 300,000 customers through a network of nearly 12,000 professionally qualified agents.

On June 14, 2005, Manulife Vietnam Fund Management Company Limited, whose name was changed to Manulife Asset Management (Vietnam) Company Limited in November 2010, a wholly owned local subsidiary of Manulife Vietnam, was granted a licence to operate a fund management and portfolio management services company, further expanding Manulife Vietnam’s product offerings for its customers.

As the top player in the market, Manulife Vietnam offers a wide range of innovative insurance products which are supported by the most effective and value-added services on the market today. Whatever stage in life, Manulife Vietnam can help its customers feel financially secure with a life insurance plan that meets their specific needs – whether it’s family protection, education or investment solutions.