Insurer FWD Group Ltd. is nearing an agreement to pay about 400 million USD for a unit of the Bank for Foreign Trade of Vietnam JSC (Vietcombank), and a long-term insurance distribution agreement with the bank, Bloomberg reported.
Prudential Vietnam Assurance Private Ltd., and World Wide Fund for Nature (WWF) signed a collaboration agreement on November 16 in Hanoi on the project “Building plastic pollution free communities.”
The Bao Viet Group ranked first among the insurance companies in Vietnam with a revenue of more than VND9.9 trillion (nearly US$423.7 million) in the first half of 2018.
Vietnam’s insurance industry achieved high year-on-year growth of 24.35% in the first half of 2018, helping total revenue to reach more than VND58.65 trillion (US$2.58 billion).
Prudential Vietnam has got approval from the Ministry of Finance to increase its chartered capital to VND4,128 billion (around US$181.8 million).
Prudential, Manulife, and FWD were among the first insurance firms to transfer insurance transactions to digital platforms, who are now followed by Chubb Life, Generali Vietnam, and Hanwha Life.
The increased presence of foreign investors in M&A deals of finance companies shows the attractiveness of the consumer credit market.
The government is developing a scheme for reforming Vietnam’s social insurance policy aiming to establish a multi-tiered social security system which will be submitted for approval in May, said Deputy Prime Minister Vuong Dinh Hue on March 5.
The appearance of big foreign retail chains like CircleK, Shop&Go, FamilyMart and Aeon and the strong rise of Vietnamese chains Vinamart, Co-op and The Gioi Di Dong have fostered the development of consumer credit in Vietnam, according to the State Bank of Vietnam.
Online insurance transactions have been commonly used in the non-life insurance segment.
Insurance companies in Vietnam reported premium revenues of more than VND38.61 trillion (US$1.7 billion) in the first six months, an increase of 25.9% from a year ago, local media have reported, citing the finance ministry.
Vietnamese life insurance companies are seeing good growth in a niche market, holding a majority market share in the north central provinces of Nghe An, Ha Tinh and Quang Binh as well as in south western localities.
Foreign companies continued to dominate the list of best employers in Vietnam, but more local firms successfully improved their workplace environment last year, a new survey found.
US insurer Prudential has bought 30-year bonds issued by the Vietnamese government at a whopping VND500 billion (US$22.32 million) and pledged to increase the investment by 12 times within this year.
Construction on three classrooms of a kindergarten located in Can Chu Phin commune, Meo Vac district, northern mountainous province of Ha Giang began on August 12 thanks to VND1.4 billion (US$65,116) in donations from Prudential Life Insurance.
(VOV) - On August 10th, Prudential Vietnam Assurance Private Ltd and the National Fund for Vietnamese Children (NFVC) signed a funding agreement for the fourth edition of the ‘Vi anh mat tre tho’ (For Children’s Eyes) project.
(VOV) - Deputy Prime Minister Vu Van Ninh will make a week-long tour of Sweden and Great Britain and Northern Ireland from April 9-17, to strengthen bilateral cooperation in various areas, especially economics, trade, and investment.
The 14th “Prudential - Good Essay, Good Writing” contest was launched in Can Tho city in the Mekong Delta on September 10.
Businesses, including foreign ones, should take part in social activities to help reduce poverty in Vietnam.
The UK Prudential Insurance Group has pledged US$10 million for Vietnam’s community activities in the 2011-2015 period through the Prudence Vietnam Fund, announced CEO of Prudential Vietnam Jack Howell in Hanoi on January 17.