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| Chubb Life Insurance Vietnam Company Limited (Chubb Life Vietnam) has announced that it has increased its chartered capital by more than VND 150 billion (US $6.5 million). — VNS Photo |
Chubb Life Insurance Vietnam Company Limited (Chubb Life Vietnam) has announced that it has increased its chartered capital by more than VND 150 billion (US $6.5 million).
This marks the second capital hike in two years to support Chubb Life Vietnam's rapid growth. The company's shareholder equity is now over VND 1.55 trillion.
Lam Hai Tuan, Chairman and Country president of Chubb Life Vietnam, said: "Chubb Life Vietnam is focused on growth in this dynamic market.
This increase will support our strategy of maintaining the growing momentum in distribution expansion, service quality enhancement and a diversified product portfolio to meet the needs for financial protection of families and individuals in Viet Nam."
The year 2016 has been a significant milestone for Chubb Life Vietnam: ACE Life changed the name of its life insurance subsidiary in Vieet Nam to Chubb Life Vietnam following ACE Limited's US$ 29.5 billion acquisition of Chubb Corporation and adoption of the Chubb name globally.
With support from the new Chubb and its experience in Viet Nam, Chubb Life is executing its strategy for rapid and sustainable growth.
In the first half of 2016 Chubb Life focused on developing its sales force, expanding to new geographies, launching new products and acquiring new bancassurance partners.