Clients study Liberty Insurance’s products. — VNS Photo Liberty Insurance has been named among the top 10 non-life insurers in Viet Nam for 2018. It is also the only limited liability company and the first 100 per cent foreign direct investment company to be ranked in this list, according to independent research compiled by Vietnam Report. Insurance firms were selected based on financial capacity, media credibility and client satisfaction. “Vietnam Report’s research shows the new trends in the insurance industry; technology, product development and networks. This aligns perfectly with the strategic vision Liberty has been developing to optimise product and service experience for our customers," the company said in a statement. Liberty Insurance is a member of Liberty Mutual Insurance, a Boston-based diversified global insurer established in 1912. As of December 31, 2017, Liberty Mutual Insurance had US$125.6 billion in consolidated assets and $38.3 billion in … [Read more...] about Liberty Insurance ranks in top 10 best non-life insurance companies in 2018
List of life insurance companies
Liberty upbeat about non-life insurance market By Dinh Dung - The Saigon Times Daily HCMC - U.S.-based Liberty Insurance Limited is buoyant and optimistic about the future of its business performance in the local non-life insurance market that offers good growth opportunity, especially in the automobile segment, after entering the market two years ago. The newly appointed general director gave the market outlook at a meeting held at the Sheraton Saigon Hotel & Towers in downtown HCMC on Thursday. Vanegas said the company had enjoyed surging revenue in auto insurance products and the young company had been listed in the top ten among 27 non-life insurance companies active in Vietnam. Vanegas revealed that Liberty had sold 10,000 auto insurance policies and the company expected the number to double this year given the increase in living standards that has allowed more Vietnamese people to buy cars. Also, awareness of insurance has been increasing. Explaining what made the company … [Read more...] about Liberty upbeat about non-life insurance market
HA NOI — Viet Nam Report Joint Stock Company (Viet Nam Report) yesterday officially announced the first FAST500 - a list of 500 companies with the fastest growth rate in Viet Nam. With a growth rate of 675.3 per cent, Nguyen Kim Trading Joint Stock Company topped the FAST500. Viet Nam Report rates companies according to independent criteria, including total assets, benefits and the number of employees. HSBC Viet Nam reports profit growth HCM CITY - The Hongkong and Shanghai Banking Corporation Viet Nam has reported a pre-tax profit of VND1.407 trillion (US$68 million) last year, a 38 per cent growth. Its assets were 31 per cent up at VND47.826 trillion ($2.2 billion). It had a capital adequacy ratio of 13 per cent against the 9 per cent minimum stipulated by the State Bank of Viet Nam. CEO Thomas Tobin said HSBC had maintained its position as the leading foreign bank for the second straight year since local incorporation. Life insurer Prudential posts strong results HCM CITY - … [Read more...] about List spotlights fast growing companies
Life insurance in Viet Nam has boomed in the past five years but seems to be facing saturation now. At present, the seven life insurers in Viet Nam are Britain's Prudential, AIA and ACE Life from the US, Manulife of Canada, Viet Nam's State-owned giant Bao Viet Life, Prevoir of France, and Bao Minh-CMG, is a joint venture between Ho Chi Minh City Insurance Co. and Australia's CMG. Analysts say the rising consumer price index and increased interest rates are among unfavorable factors for the market's growth.According to a report the Ministry of Finance issued in July 2005, the market grew by 13% to VND4 trillion in the first half of that year. Foreign insurers are dominating the market and Prudential is the market leader. In the first half of 2005, Prudential's market share rose to almost 48% from 45.1% by the end of last year. Meanwhile, Bao Viet Life's share dropped from 28.4% to 21.5% in the same period, the report says. AIA, an arm of the American International Group (AIG), had … [Read more...] about Life Insurance in Viet Nam
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.