Hanwha Life Vietnam Subsidiary Ranked 7th Most Trusted Life Insurance Company Locally

Hanwha Life Vietnam Corporation

[Asia Economy Reporter Changhwan Lee] Hanwha Life announced on the 6th that its Vietnam branch was ranked 7th among the most trusted life insurance companies in Vietnam by Vietnam Report.

Vietnam Report is an authoritative corporate evaluation institution in Vietnam that objectively and independently conducts industrial analysis and corporate evaluations in Vietnam. Vietnam Report evaluated the ranking of life insurance companies in Vietnam based on the insurers' financial status, corporate history, and consumer surveys.

The top 10 life insurance companies selected this time include Hanwha Life Vietnam branch, BaoViet, Dai-ichi, AIA, Prudential, Chubb, MB ageas, Manulife, Generali, and Cathy.

Hanwha Life entered the Vietnamese insurance market in April 2009 as the first domestic life insurance company to do so. The scale of new contract sales increased from 32.2 billion VND (approximately 1.6 billion KRW) in the first year of operation in 2009 to 1.0169 trillion VND (approximately 50.2 billion KRW) by the end of 2021.

Premium income has continuously grown from 32.2 billion VND (approximately 1.6 billion KRW) in the first year to 3.8748 trillion VND (approximately 196.3 billion KRW) last year. Last year, net profit reached 159.3 billion VND (approximately 8 billion KRW), marking three consecutive years of profitability.

Hanwha Life is expanding its sales network based on its know-how in the Korean market and emphasized that this year it plans to introduce digital-based sales channels and innovative products to meet the needs of the Vietnamese MZ generation consumers. The company has completed the development of the Lime and Lime Pro apps for customers and sales personnel, which are currently in use.

This content was produced with the assistance of AI translation services.