Quy Nhon City, March 8, 2016 - ACE Life, the global life insurance division of Chubb Limited, today officially opened its new office in Quy Nhon City, Binh Dinh province. Located on Level 4 of Building No. 1 Dinh Bo Linh Street, Quy Nhon City, the well-equipped and spacious office will be the working center for more than 220 account representatives and staff of ACE Life.
The opening of the Quy Nhon office is in line with ACE Life’s development strategy to expand its office network throughout Vietnam, following its third 5-year strategic plan – the journey “From Good to Great”. To date, ACE Life has grown to become a network of 34 offices in 30 cities and provinces nationwide, with more than 16.000 professional and account representatives.
Mr. Lam Hai Tuan, Chairman and Country President of ACE Life in Vietnam, said: “In the past years, we have focused on building a quality business by developing a superior product portfolio, training a professional and business-ethical agency force, and demonstrating industry leadership by applying technologies into business and customer service.
“We have a solid foundation to pursue our growth strategy throughout the country; enhancing our presence and competitiveness. With the opening of our new Quy Nhon office, we have taken another step towards better serving our customers and bringing our services closer to the local residents.”
As a division of Chubb (f.k.a. ACE Limited), ACE Life in Vietnam will be changing its name to Chubb Life Vietnam, a process expected to be completed within Quarter I, 2016. With ACE’s acquisition of Chubb worldwide, the combined organization is now operating under the Chubb name. This underscores both companies’ collective strengths to become one distinguished company, providing customers with extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
Leveraging outstanding resources from the parent company and its local expertise, ACE Life in Vietnam expects to achieve continued success on its further journey “From Good to Great”.
About ACE Life in Vietnam
ACE Life Insurance Company Ltd. (“ACE Life Vietnam”) is part of the Chubb Limited of Companies (f.k.a. ACE Limited), the world’s largest publicly traded property and casualty insurer. ACE Life in Vietnam will be changing its name to Chubb Life, a process expected to be completed within Quarter I, 2016.
In Vietnam, ACE Life offers a comprehensive array of quality life-insurance products to meet the financial-protection and security needs of a broad range of customers. The company pioneered the introduction of the Universal Life plan to the Vietnamese market in March 2006. Since then, it has developed a full range of Universal Life products. This diverse range of Universal Life products enables individuals and groups up to the age of 80 to select plans to suit their financial means. ACE Life distributes its products mainly through its professional and ever-growing 16,000 strong agency force, as well as through selected banks.
About Chubb
Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.
The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
The insurance companies of Chubb serve multinational corporations, mid-size and small businesses with property and casualty insurance and services; affluent and high net worth individuals with substantial assets to protect; individuals purchasing life, personal accident, supplemental health, homeowners, automobile and other specialty insurance coverage; companies and affinity groups providing or offering accident and health insurance programs and life insurance to their employees or members; and insurers managing exposures with reinsurance coverage.
With more than $150 billion in assets and $37 billion of gross written premiums in 2014* on a pro forma basis, Chubb’s core operating insurance companies maintain financial strength ratings of AA from Standard & Poor’s and A++ from A.M. Best.
Chubb’s parent company is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index.
Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 30,000 people worldwide.
*Pro forma for ACE Limited’s [January] 2016 acquisition of Chubb.