A Hanwha Life Vietnam’s customer service centre. Hanwha Life Vietnam reported a 47 per cent growth in annual first-year premiums in the first nine months of the year. — VNS Photo

Korea’s Hanwha Life Vietnam Insurance Company Ltd achieved VND478 billion (US$21.05 million) in its annual first-year premiums (AFYP) in the first nine months of the year, an increase of 47 per cent over the same period last year.

The increase led to a rise of 0.4 per cent in the company’s market share compared to the same period last year.

Back Jong Kook, chairman of the members’ council and general director of Hanwha Life Vietnam, attributed the strong growth to the expansion of its network across the country and its focus on improving customer service and financial consultancy.

The company attracted 19,000 new financial advisors in the period. By mid-August, it had set up 100 customer service centres, four months earlier than planned.

Last month, the company continued to expand its network to its total service centres to108.

Hanwha Life has also focused on diversifying its distribution channels by signing bancassurance agreements with two major Korean banks in Viet Nam -- Woori Bank and Shinhan Bank -- to distribute insurance products through the banks’ networks. — VNS