Prudential Vietnam announces strong Full Year 2017 Results SUSTAINED GROWTH IN REVENUE; LEADING THE MARKET IN TOTAL INVESTMENTS

April 9th 2017 - Prudential Vietnam Assurance (Prudential Vietnam) today announced its FY2017 results, which showed the company continuing its strong momentum.

Prudential Vietnam reported strong growth across its key financial metrics. The company achieved total revenue from insurance operations of VND16,019 billion, an increase of 20 percent, and Annual Premium Equivalent of VND3,925 billion, an increase of 12 percent.

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 during the year.[1]

The strength of its insurance business and investments saw Prudential Vietnam reporting total assets of VND74,112 billion as at the end of the year.  

In 2017, Prudential Vietnam’s total investment into the economy was VND66,241 billion, the largest amount invested by a life insurance company in the country.[2]

Last month, the company was recognised by Deputy PM Vuong Dinh Hue for its ongoing and sustainable growth in Vietnam as well as its active investment in government bonds in a meeting with Prudential plc’s Regulatory and Government Relations Director, Mr Julian Adams. Both parties exchanged constructive views about the socio-economic development of the country and long-term growth of the country’s insurance market.

In addition, in March, Prudential was proud to be named by Anphabe, a leading online community for the business sector, as the Best Place to Work (Insurance) for the fifth consecutive year (2013-2017). This is another example of Prudential’s dedication over 20 years to become not only a leading life insurance company in Vietnam, but also the best place to work by thoroughly applying the “care” philosophy to both customers and employees.

Over the past years, Prudential has also become a role model for the insurance industry with its community investment activities. In 2017, Prudential continued to make a positive impact on communities across the country through projects such as Disaster Risk Reduction, Blood Donation, SAFE STEPS, Cha-Ching, Rose, and Children's Eyesight Project.

Mr Steve Clark, Chief Executive Officer of Prudential Vietnam, said, “We are grateful for the support and trust from our customers throughout 2017. Life insurance is a long-term goal and we are committed to providing the best protection and investments for our customer’s different life-stage and ever-changing needs, as well as giving back to our communities. We will also continue investing in Vietnam and take part in bilateral collaborations to build a more sustainable economy and society.” 

[1] Source: IAV Insurance Association of Vietnam’s estimated report January 2018

[2] Source: IAV Insurance Association of Vietnam’s estimated report January 2018

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