Sun Life's charter capital now among the top three largest in Vietnam

April 05, 2024 | 15:15

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Following approval from the Ministry of Finance, Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) announced on March 29 that the company has recently increased its charter capital from VND16.48 trillion ($660 million) to VND17.94 trillion ($718.6 million).

Sun Life's charter capital now among the top three largest in Vietnam

The move means Sun Life Vietnam is now among the top three life insurance companies for size of charter capital currently operating in Vietnam.

The development in terms of operational scale, human resources, office systems, and service centres is a result of Sun Life’s commitment to long-term investment in Vietnam, where the company has operated since 2013. The increased financial strength, along with the solid development foundation built over 160 years, reinforces the assurance of outstanding capabilities to meet the ever-growing needs of Vietnamese clients in the years to come.

Luc Nhon Ly, CEO of Sun Life Vietnam said, "We are confident in our ability to create high-quality products and services, and help our clients and the community achieve their health and wealth goals and live brighter lives."

With solutions focusing on experiences, values, and authentic touchpoints, tailored to the diverse needs of each individual, Sun Life Vietnam is providing financial security and health protection for over 300,000 clients, including both individuals and companies in Vietnam.

Sun Life Vietnam is a member of Sun Life - a top international financial services organisation providing asset management and wealth, insurance, and health solutions to clients. Sun Life has operations in 28 markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

As of the end of 2023, Sun Life had total assets under management of $1.4 trillion.

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By Thanh Van

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