Manulife settles insurance claims worth 298.55 million USD in 2022
04/17/2023 08:11
Manulife Vietnam settles claims worth nearly 7 trillion VND (298.55 million USD) in 2022, a 36% increase from the previous year. The first foreign-owned life insurer in the country now serves over 1.5 million customers. (Photo: Courtesy of the company)
It reported revenues of 33.09 trillion VND (1.4 billion USD) last year. Its total assets reached nearly 106.38 trillion VND (4.5 billion USD), an increase of 14%.
It also achieved a turnaround to make a profit in 2022 after suffering losses in the previous year.
It has a solid financial foundation with a charter capital of 22.22 trillion VND (947.19 million USD) and solvency margin far above the minimum requirement.
Manulife CEO Sang Lee attributed the good results to the trust of customers, prudent financial management and stable interest rates, which had a positive impact on technical reserves and profits.
Manulife has exclusive bancassurance partnerships with some banks, and has embraced digital applications to make insurance more accessible, providing customers and consultants with safe, fast and convenient transaction tools.
It won a number of prestigious awards last year, including for ‘Insurance Company of the Year’ at the Asia Trusted Life Agents & Advisers Awards, ‘Digital Insurance Initiative of the Year – Vietnam’ at the Insurance Asia Awards and “Top 100 Best Workplaces to Work for in Vietnam 2022” from recruitment company Anphabe./.
