Manulife boosts financial strength in Vietnam
Manulife boosts financial strength in Vietnam
Manulife, a leading Canada-based financial services group, just increased the chartered capital in its Vietnamese operations by 38 per cent to VND1.35 trillion ($61.6 million), a move that demonstrates the company’s long-term commitment to the country’s life insurance market.
The increase took place at the end of the second quarter this year.
“Our company’s vision is to help customers achieve their dreams and aspirations,” said Paul Nguyen, Manulife Vietnam CEO. “The capital increase will enable us to achieve this as we continue to invest in providing customers with holistic life, health and wealth solutions, developing our diversified distribution channels and building our market-leading digital customer engagement.”
In 2016, Manulife plans to open 10 new offices across Vietnam adding to the network of 45 offices as of the end of 2015. This expansion will help the company better serve its customers as well as create employment opportunities.
In June 1999, Manulife Vietnam became the first foreign-owned life insurance company licensed in the country. Headquartered at Manulife Plaz in, Ho Chi Minh City’s District 7, Manulife Vietnam currently has over 500 employees and around 20,000 agents working at 49 offices across 35 major cities and provinces as of May 2016.
The company offers a wide range of innovative insurance products, including traditional life, health, education, investment and pension solutions.
