Following approval from the Ministry of Finance, Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) recently increased its charter capital from VNĐ16.48 trillion to more than VNĐ17.94 trillion.
Many banks missold life assurance policies, with some customers having their savings deducted to purchase agreements without their knowledge, a MoF investigation has found.
The Ministry of Finance has requested insurance companies to urgently review their overall sales and appraisal processes, and customer service procedures to ensure compliance with legal regulations.
Insurers should promote digital transformation rapidly as, compared to other financial industries, the insurance industry is considered to have slow digital transformation with limited economic efficiency.
In Viet Nam, following the growth momentum of 2020, 75 per cent of insurance enterprises participating in VNR''s survey recorded positive results in 2021.
Chubb Life Insurance Vietnam Company Limited (Chubb Life Vietnam) received the “Top 10 Most Reputable Insurance Companies” and “Top 500 Fastest Growing Enterprises in Vietnam” (FAST500) awards for 2020 from Vietnam Report and VietnamNet at a ceremony on September 15.
Insurance companies should use more electronic transactions and take advantage of high-tech produts to better compete in the market, a government official saidon Thursday in HCM City
Insurance companies and their agents face stricter scrutiny as a number of Government decisions designed to regulate agents qualifications are set to take effect in November.
Total assets of Vietnamese insurance companies in the first eight months of the year surged sharply by 35.16 per cent year-on-year to nearly VND365.52 trillion (US$15.55 billion), a report from the Ministry of Finance (MoF) showed.
Home Credit Vietnam Finance Company Limited has tied up with three insurance companies, PTI, GIC and Bao Minh, to provide additional benefits to the spouses of customers who buy insurance to cover 100 per cent of their loan.
The Bao Viet Group ranked first among insurance companies in Viet Nam with a revenue of more than VND9.9 trillion (US$423.7 million) in the first half of 2018.
The total premium collected by insurance companies in the first nine months of 2017 surged by 21.6 per cent year-on-year, to more than VND75.23 trillion (US$3.31 billion).
The total premium collected by insurance companies in the first eight months of 2017 surged by 21.9 per cent year on year to nearly VND65.56 trillion (US$2.89 billion).