Insurer's premiums rise 59% from January to May.
Hanwha Life Vietnam has announced it recorded 59 per cent growth in new business premiums in the first five months of 2015.
Despite human resources moving constantly within the industry the company was able to recruit up to 1,000 new financial consultants in the first five months.
Besides increasing its human resources the company also continued to expand its network in major cities, with up to 20 business offices being opened as at May as well as 24 general agencies in smaller cities and provinces.
Payouts stood at more than VND7 billion ($321,000) in the first five months. “The rate of retention premiums was up to 75 per cent in the first five months of 2015, which is a good result for any insurer,” said Mr. Back Jong Kook, Chairman and CEO of Hanwha Life. “We believe that the company will record the highest growth in Vietnam’s life insurance market.”
The company is making great efforts to become the leading company in product and service quality by 2017 and to rank fifth in sales in Vietnam by 2020.
- Hanwha Life Vietnam