Manulife Vietnam grows 19pct in sales

March 29, 2013 | 08:58

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Life insurer Manulife Vietnam reported a positive growth for 2012 with annualized premium equivalent insurance sales of VND718 billion, increasing 19pct over 2011.

It total premiums and deposits were at over VND2.1 trillion, a 21pct year-on-year surge. This is strong evidence of the company’s commitment to business development and market expansion in Vietnam, Chung Ba Phuong, CEO of Manulife Vietnam, said in a statement released on Tuesday.

The insurer focused on developing a customer-driven agency force as part of its strategy to differentiate itself from competitors. In 2012, Manulife Vietnam had the most MDRT (Million Dollar Round Table) qualified agents.

This internationally recognized title honors outstanding agents in the life insurance and financial services business. The enterprise had 286 MDRT qualified agents in 2012, up 55pct from 2011.

Manulife Vietnam also promoted ties with strategic banking partners in 2012 to diversify products and services, improve service quality and reach out to new customers. It posted up an 85pct increase in bancassurance sales last year.

Saigon Times

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