Prudential commits long-term investment in Vietnam
Friday, June 15,2018AsemconnectVietnam - Prudential Vietnam has got approval from the Ministry of Finance to increase its chartered capital to VND4,128 billion (around US$181.8 million).
The move affirmed the company’s commitment to make long-term investment in the Vietnamese market.
Besides strengthening the company’s financial capacity, the additional capital will also enable Prudential Vietnam to further improve its products and services and expanding its reach across the country.
In recent years, Prudential Vietnam has actively expanded its business activities and recorded strong growth. In 2017, it reported revenues of VND16,019 billion (some US$705.7 million), an increase of 20% year on year.
It paid out VND6,261 billion (US$275.8 million) in insurance settlements last year.
The company’s total assets were valued at VND74,112 billion (US$3.26 billion) by the end of 2017, while its total investment into the economy was VND66,241 billion (US$2.91 billion) in 2017, the highest by a life insurance company in the country.
In line with its long-term business strategies, Prudential Vietnam has acquired VND5,188 billion (US$228.5 million) and VND2,100 billion (US$92.5 million) worth of 30-year and 20-year bonds.
Showing appearance in Vietnam in 1995 and officially commencing operations in 1999 with the motto of “Always Listening. Always Understanding”, Prudential Vietnam has successfully been the pioneer of the life insurance sector.
The business system of Prudential Vietnam has stretched nationwide with more than 300 customer care centres and branches located in 63 cities and provinces of Vietnam thanks to the cooperation with seven partner banks.
Prudential Vietnam has achieved multiple awards from domestic and foreign prestigious organisations. Especially, in 2014, it was awarded a second-class Labour Order by the Vietnamese President in recognition for its contributions to the country’s socio-economic development.
Along with business activities, Prudential Vietnam has paid due attention to the social contributions for the community development and sustainable growth purposes.
“RUN AS ONE”- Meaningful message of Saigon Newport First Running Tournament
Steel producers await positive results in H2
Profit growth of banking industry forecast to slow in 2023
Vietnam Airlines to auction three A321 CEO aircraft
Fertiliser enterprises apply modern technology to reduce emissions
FPT Software inks partnership agreement with Nippon Seiki
LPBank (LPB): Profit in the first 6 months of 2023 decreased by 31.8% yoy
Thai Nguyen Iron and Steel (TIS) reported a loss for the fourth quarter
In the first 6 months of 2023, export sales of Damsan (ADS) estimated at VND461 billion
Binh Dien Fertilizer (BFC) just completed 22% of the year's profit plan in 6 months
PV GAS estimates 6 months' profit after tax to reach more than VND6,000 billion
“Human resource for sustainable port development" seminar organized by the ASEAN Port Association held in Vietnam
Hoang Huy Finance (TCH) plans to increase profit after tax by 2 digits
PVOIL (OIL) earned VND470 billion profit before tax in 6 months, reaching 78.3% of the year plan
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...