Prudential is the top foreign company in the list of 10 most prestigious life and non-life insurance companies in Viet Nam in 2021 announced by Vietnam Report.

This is for the fifth consecutive year that Prudential is in the top 10 rankings, which are based on Vietnam Report’s independent research into and assessment of financial capacity and efficiency, reputation in the media and customer awareness of and satisfaction in their products and services.

According to Vietnam Report, though many sectors were badly affected by the COVID-19 pandemic, the insurance industry still managed impressive growth in 2020.

Prudential reported a 19.7 per cent increase in total assets to VND124.28 trillion (US$5.34 billion).

It settled more than VND6.76 trillion ($291.8 million) worth of claims last year, 8.1 per cent up from 2019 and representing nearly 30 per cent of the industry’s total settlements.

It took several initiatives to digitise, and now all customer touchpoints from consultation and underwriting to claims submission are digitised.

Prudential also undertook community activities in three core areas, education, health and safety, and has contributed more than VND6 billion to the country’s fight against COVID just this year alone.

Phuong Tien Minh, the company’s CEO, said: “After more than two decades of operation in Viet Nam, we are honoured to continue to be recognised as the most prestigious foreign life insurance company.” — VNS