Under the agreement, EY Viet Nam will carry out the audit work for Phu Hung Life Insurance in the 2013 fiscal year, helping the latter set a high standard and commitment for its corporate governance and business practices.—VNS Photo

HCM CITY (Biz Hub) – The Phu Hung Life Insurance Joint-Stock Company signed a contract to appoint EY Viet Nam as its auditor on Thursday.

Under the agreement, EY Viet Nam will carry out the audit work for Phu Hung Life Insurance in the 2013 fiscal year, helping the latter set a high standard and commitment for its corporate governance and business practices.

"We trust the quality of EY's people and their capability in the insurance audit," said Bimal Balasinghan, director of Phu Hung Life Insurance.

Phu Hung Life Insurance was established in 2013 with an initial capital of VND633 billion (US$30.1 million).

The company is the first joint-stock life insurer in the country. Its shareholders include Phu My Hung Corporation, Phu Hung Assurance and CX Technology. — VNS