Hanwha Life Commits Long-term Investment in Vietnam Market
Sunday, July 15,2018AsemconnectVietnam - Hanwha Life Vietnam Insurance Co., Ltd announced that the company has recently received approval from the Ministry of Finance to increase chartered capital by issuing license No 51/GPDC6/KDBH in July 10th.
Founded in 2009, Hanwha Life Vietnam has quickly risen to the group of impressive growth in the insurance industry. Over the past five years (2013- 2017), new premium revenue growth averaged 41%, up 10% in comparison with the industry average. At the same time, total revenue growth was 54%, 24% higher than the overall market growth of 30%. Currently, Hanwha Life Vietnam has built up a wide distribution network with more than 120 customer service centers nationwide and 40,000 dedicated financial consultants.
During operation in Vietnam, Hanwha Life received the strong support from Hanwha Group (Korea) for experience and financial potential. Hanwha Group now is one of top 10 conglomerates in Korea. In 2017, Hanwha Group was ranked 246th in the Fortune 500th largest enterprises in the world. Presently, Hanwha Group is strengthening its presence in the Vietnamese market with projects totaling nearly USD500 million: Solar power plant in Long An province; Security equipment factory in Que Vo Industrial Zone, Bac Ninh; The first and only aircraft engine factory in Hoa Lac Hi-Tech Park.
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