Recent major purchase of government bond evidence of insurer's long-term vision and commitment to Vietnam.
Prudential Vietnam sealed a deal on July 29, 2015 in Hanoi with the Ministry of Finance for about $146 million long-term investment in 20-year government bonds, signed in the presence of the Vietnamese and UK Prime Ministers. The significant investment once again affirmed Prudential’s safe and effective investment strategy in Vietnam as a leading market player.
Long-term, sustainable commitments
For the last two decades Prudential has continued to be an active member of and contributor to the growth of Vietnam’s insurance industry. According to a report released by the Insurance Supervisory Authority under the Ministry of Finance, total new business premiums in the country’s life insurance market in the first six months of 2015 increased 55.2 per cent year-on-year. Prudential has been a leading market player for the last eleven years and has purchased a large quantity of government bonds during the period from 2010 to June 2015. The latest bond purchase is the highest investment by a life insurer in the market.
“This is a really good opportunity we have captured as it is the first time 20-year government bonds have been issued in Vietnam,” said Mr. Wilf Blackburn, Prudential Vietnam’s CEO. “The decision to make a VND3.2 trillion long-term investment in government bonds demonstrates our prestigious, long-term vision and strategy for sustainable development of the market in Vietnam. This is also done to acquire additional protection solutions, ensuring the sustainability of our financial plan as well as offering the best added value for Prudential’s customers. More importantly, the investment in government bonds shows that we continue to cooperate in long-term positive investments with Vietnam in infrastructure and economic growth and improvements in living standards.”
No.1 insurer of trust
Prudential has always been proactive in providing Vietnamese households with the best financial solutions for protection and financial security. According to its latest financial statements, Prudential’s total assets were $2 billion in 2014, a 17.8 per cent increase year-on-year and making it a leading insurance company in regard to financial capacity.
Moreover, its special bonus brings policyholders unique experiences of utmost satisfaction. Prudential is the only life insurer paying a special bonus to customers. So far a total of $100 million in bonuses have been paid to customers, including $23.8 million in 2007, $41.1 million for 2012, and $34.8 million in 2013. This year the journey will continue, in which 21,000 loyal customers will receive bonuses from the company totaling $1.9 million. “I was so happy to learn that I was among those receiving the special bonus,” said Ms. Phan Lan Diem Phuong, a Prudential policyholder in Ho Chi Minh City. “My personal goals in my financial plan have been achieved after ten years with Prudential. I have a considerable sum already and now I have this special bonus.”
Prudential is offering a wide range of products to meet the needs of different customers. It is now operating the most extensive nationwide distribution network, comprising over 270 customer services centers and branch offices in Vietnam’s 63 cities and provinces and the qualified team of consultants that provide the best solutions and services to Vietnamese families.