Prudential Vietnam increases charter capital

Prudential tăng vốn điều lệ

Prudential tăng vốn điều lệ

On May 28, 2018, Prudential Vietnam obtained the approval from the Ministry of Finance to increase its charter capital to VND4,128 billion, reinforcing its long-term commitment to Vietnam and continued investment in the country.

Apart from strengthening its financial capacity, the additional capital will provide Prudential Vietnam with a solid foundation to further boost its investment in enhancing its product offering and services, as well as expanding its reach to millions of Vietnamese families across the country. These efforts are expected to generate further growth momentum in its business and help support the ongoing development of the life insurance sector in Vietnam.

In recent years, Prudential Vietnam has continued to accelerate its business. For its financial year 2017, the company reported total revenue from insurance operation of VND16,019 billion, an increase of 20 per cent from the previous year, and Annual Premium Equivalent of VND3,925 billion, an increase of 12 per cent. During the year, Prudential Vietnam continued to deliver on its commitment to provide financial protection for families throughout Vietnam, paying out VND6,261 billion in insurance benefits.

Prudential Vietnam also demonstrated the strength of its insurance business, reporting total assets of VND74,112 billion as at the end of 2017. In addition, its total investment into the economy was VND66,241 billion, the largest amount invested by a life insurance company in the country in 2017.

Prudential Vietnam has been recognized for its continued and substantial investments in Government bonds over the last few years and is a leading investor in 20-year and 30-year bonds. In line with its long-term business strategies and investments in Vietnam, Prudential has acquired VND5,188 billion and VND2,100 billion worth of 30-year and 20-year bonds respectively.

Last month, Prudential Vietnam received the “Vietnam’s Leading Life Insurance Company” and “Top 10 Golden Dragon” honors at the Golden Dragon Award, organized by Vietnam Economic Times. This was the 15th time it received the prestigious awards for foreign-invested enterprises in Vietnam. The recognition underscores Prudential's position as a leading life insurer in Vietnam and its positive contributions to the socio-economic development of the country, as evidenced by its strong business results, excellent products and services, and impactful community-investment activities.

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