Prudential Vietnam has got approval from the Ministry of Finance to increase its chartered capital to 4,128 billion VND (around 181.8 million USD)(Source: laodongthudo.vn)
 
Hanoi (VNA) - Prudential Vietnam has got approval from the Ministry of Finance to increase its chartered capital to 4,128 billion VND (around 181.8 million USD).

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 16,019 billion VND (some 705.7 million USD), an increase of 20 percent year on year.

It paid out 6,261 billion VND (275.8 million USD) in insurance settlements last year.

The company’s total assets were valued at 74,112 billion VND (3.26 billion USD) by the end of 2017, while its total investment into the economy was 66,241 billion VND (2.91 billion USD) in 2017, the highest by a life insurance company in the country.

In line with its long-term business strategies, Prudential Vietnam has acquired 5,188 billion VND (228.5 million USD) and 2,100 billion VND (92.5 million USD) 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.-VNA