Manulife Vietnam designated as the country’s largest life insurance firm

January 11, 2018 | 11:16

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On January 10, the Ministry of Finance (MoF) approved the adjusted licence No.13/GPDC22/KDBH dated December 25, 2017 to adjust the charter capital of Manulife Vietnam to VND5.72 trillion ($251.9 million), turning the insurer into the country’s top life insurance enterprise having the largest charter capital.

Paul Nguyen, general director of Manulife Vietnam, stated that, “The firm’s charter capital adjustment laid the cornerstone of the firm’s development journey towards providing optimal solutions for financial administration, healthcare, and other life-related aspects, as well as to promote technological applications in the customer service sector.”

“The charter capital alteration showcases the firm’s unwavering commitment to the Vietnamese insurance market and provides Manulife Vietnam a firm financial foundation, further boosting the firm’s investment and development activities in prime sectors,” Paul added.

Over the past couple of years, Manulife Vietnam posted a series of impressive business results, such as a remarkably high business growth compared to other insurance enterprises. To date, Manulife Vietnam was reported to be Vietnam’s leading insurance enterprise in the trading of insurance products through financial institutions or bancassurance arrangements, paving its way to become a pioneering insurance enterprise applying digital applications to enhance service quality.

Previously, Manulife was given the accolade “Vietnam’s Best Life Insurance Enterprise 2017” by Global Business Outlook, a British magazine. Additionally, the Vietnam-based insurance firm was granted the award “Excellent Brand 2017” as well as the certificate of "Business Excellence" based on the customer satisfaction index in 2017, which was issued by the Council of Economic Research Institute and Global Trade Association (GTA).

Earlier, Manulife Vietnam finalised the country’s very first exclusive bancassurance deal as the outcome of the insurer’s long-term partnership with Saigon Joint Stock Commercial Bank (SCB) with the sole purpose of delivering bancassurance solutions for the bank’s customers in Vietnam.

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