A Hanwha Life Insurance office in HCM City. The company plans to increase its charter capital from VNĐ1.89 trillion to VNĐ4.89 trillion. — VNS Photo Viet Nam News HCM CITY — South Korea’s Hanwha Life Insurance Company (Vietnam) on Wednesday announced plans to increase its charter capital by VNĐ3 trillion (US$131 million) to VNĐ4.89 trillion ($214 million), becoming one of the largest life insurers in the country. The Ministry of Finance has given approval. The company said the capital injection strongly demonstrated its long-term commitment to the Vietnamese market and would provide a solid financial foundation for its development efforts. Back Jong Kook, the company’s CEO and chairman, said financial strength is an important criterion for every life insurance company. Founded in 2009, Hanwha Vietnam has achieved impressive growth. In the last five years its new premium revenue growth has averaged 41 per cent, 10 percentage points … [Read more...] about Hanwha Life to boost charter capital
Hanwha life insurance
Thu Nguyet Representatives of Hanwha Life Vietnam and volunteers from South Korea pose for photos with children at Cu Chi Town Ele- mentary School in HCMC’s Cu Chi District at the charity program last week - PHOTO: HANWHA LIFE The program, which took place last week, gave VND60 million (nearly US$2,700) worth of scholarships and gifts to school children and helped set up book shelves for ten classrooms, refurbish the school’s library and tidy up the school campus to create a green and clean space for study and fun activity. The company and volunteers held an entertainment show featuring music and circus performances to cheer up the children. The life insurer has also joined several charity programs in Vietnam, such as organizing a blood donation drive, donating 12 homes to people in need and 8,200 health insurance cards in 15 localities. The company received the Corporate Social Responsibility (CSR) Awards from the Vietnamese Ministry of Planning and … [Read more...] about Hanwha Life supports poor students in Cu Chi
In the morning of 11 March 2013, Mr. Phan Ngoc Tho- Deputy Chairman of the Provincial People's Committee chaired the reception to Hanwa Life Insurance Co.Ltd to say greetings and informed the Company's plan for aiding to build houses of compassion. Hanwha Life is the key member of Hanwha Group, which is one of 10 biggest groups in Korea and in the list of 500 global biggest groups. At the reception, Mr. Back Jong Kook presented Project for building houses of compassion by Hanwha- Life Insurance Co. Ltd. - Korea in Vietnam. According to this, the Company will aid to build 93 houses of compassion in Vietnam; in which 10 houses will be supported for the poor in Quang Dien district- Thua Thien Hue with value of 30 million dong/ house. Deputy Chairman of the Provincial People's Committee Phan Ngoc Tho acknowledged the love of the Company to Vietnam and especially Thua Thien Hue. Concerning the Project's reception, he requested People's Committee of Quang Dien district to guide closely and … [Read more...] about Hanwa Life Insurance Co. Ltd.- Korea aided 10 houses of compassion to the poor in Quang Dien district.
Life insurance industry sets modest goal Hoang Phi By Hoang Phi - The Saigon Times Daily HCMC – The life insurance industry having just passed a tough year practicing prudence is setting a realistic growth target for this year. The industry aims to achieve premiums of over VND19.7 trillion in 2013, a growth of 10% year-on-year. Last year, the industry obtained VND18 trillion, up 12% from 2011, which is considered a success in an extremely tough year for the industry players. The growth target for this year is much lower than the average 17% that the life insurance industry has achieved in recent years. However, the market is expected to continue to be vibrant, while competition will get more intense with 14 companies active in this sector and only 5% of the population holding life insurance policies. The market is witnessing unhealthy competition, with a fierce battle for employees and the reduction of insurance premiums to win customers, especially in the current tough … [Read more...] about Life insurance industry sets modest goal
Korean Life renamed Hanwha Life Hoang Phi By Hoang Phi - The Saigon Times Daily HCMC - The Korean life insurance company Korea Life Vietnam on Thursday held a press briefing in HCMC to announce its brand name being officially changed into Hanwha Life Vietnam. The change was announced after its parent company Korea Life Insurance had earlier been renamed Hanwha Life Insurance. Even though the new name does not result in any changes in the business strategy as well as the operation of the insurance company in Vietnam, it is unavoidable that there will be certain impacts on customers, Hanwha Life Vietnam’s general director Back Jong Kook said. Hanwha Life Vietnam has devised steps to minimize the impacts, including sending letters to the existing 23,000 clients and providing more training to its financial consultants at the same time. Hanwha plans to train 9,000 financial consultants this year besides recruiting more financial consultants in the coming time with an aim to … [Read more...] about Korean Life renamed Hanwha Life