Wednesday,  Jan 23, 2019,13:56 (GMT+7) 0 0
Hanwha Life increases chartered capital
By Nhu Phu
Friday,  Jul 13, 2018,12:32 (GMT+7)

Hanwha Life increases chartered capital

By Nhu Phu

HCMC – Hanwha Life Vietnam has announced plans to increase its chartered capital from some VND1.9 trillion to nearly VND4.9 trillion, making the Korean life insurer one of the largest life insurance companies in terms of chartered capital in the local market.

Capital injection has strongly demonstrated Hanwha Life Vietnam's long-term commitment in the Vietnam market as well as its solid financial foundation that will help boost its investment and development services to serve its customers.

Back Jong Kook, CEO and chairman of the Member Council, said in a statement released on July 11 that strong financial resources are an important criterion for every life insurance company to become a reliable financial foundation that helps customers face the risks of life.

The capital hike confirmed the long-term investment commitment of Hanwha Group and Hanwha Life in the Vietnam market, he stressed.

Hanwha Life will continue to develop and increase its competitiveness in the life insurance market in Vietnam and will make strong efforts to solidify Vietnam’s position in the integrated economy situation in the near future.

Founded in 2009, Hanwha Life Vietnam has demonstrated impressive growth in the insurance industry. It has built up a wide distribution network, with more than 120 customer service centers nationwide and 40,000 dedicated financial consultants.

Hanwha Group is strengthening its presence in the Vietnamese market with projects totaling nearly US$500 million, including a solar power plant in Long An Province, a security equipment factory in Que Vo Industrial Zone in Bac Ninh Province and the first and only aircraft engine factory in Hoa Lac Hi-Tech Park.

Aside from its business development efforts, Hanwha Life has made major contributions to the local community. The company granted some VND31 billion to donate 45,677 health insurance cards for the poor and support 160 charity houses and 3 health care centers in the Bac Kan and Hoa Binh provinces.

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