Ho Chi Minh City, May 16, 2017 – Chubb Life Insurance Vietnam Company Ltd. (Chubb Life) today announced the donation of VND 2.5 billion (approximately US$112,500) to rebuild the Duy Ninh Kindergarten at Duy Ninh commune, Quang Ninh district, Quang Binh province. This is the company’s seventh school building project, and the second funded by the Chubb Charitable Foundation – International. To mark the donation, representatives of Chubb Life visited children who will attend the school, presenting more than 200 gift packs including stationery, books and milk.
With the combined support of Chubb Life, Chubb Charitable Foundation – International and the local community, Duy Ninh Kindergarten will be rebuilt into a two-story building with six spacious classrooms, replacing an existing row of worn-out buildings. The new building, with a total cost of VND 5.1 billion, will provide learning facilities for more than 200 local students. The campus will also provide a safe shelter for approximately 300 people in the event of flooding. Self-contained toilets that meet national standards for kindergartens and preschools will also be built.
Mr. Lam Hai Tuan, Chairman and Country President of Chubb Life, said, “Education is an important community support priority for Chubb Life in Vietnam. We are pleased that our contribution will help provide a safe and hygienic learning environment for young children to further their education. As education is the gateway to an improved future, we believe that providing support to rebuild the Duy Ninh Kindergarten is one of the best ways we can contribute to bring long-lasting benefits to the local community."
Like the six school projects previously supported by Chubb Life through the Central Region Natural Disaster Prevention and Support Fund, Duy Ninh Kindergarten will be a strong and stable structure designed to withstand floods during monsoon seasons. The construction is expected to be completed in about six months, in time to open for the 2017 - 2018 academic year.
Since 2005, Chubb Life and Chubb Charitable Foundation – International have provided a total of VND 21.5 billion (US$978,000) to meet educational needs in Vietnam, including the seven schools as well as providing scholarships to underprivileged university students.
The old Duy Ninh school building was built in 1999 as a primary school and was later converted to a kindergarten. For years, the local community could not afford to renovate or rebuild the school, which deteriorated and became unsafe for teaching and learning.
About Chubb Charitable Foundation – International
The Chubb Charitable Foundation – International is one of three charitable foundations associated with Chubb Group. In 2016 the Company’s Foundations made grants and matching gifts of nearly US$7.0 million to support innovative initiatives around the globe. Chubb is a firm believer that positive contributions to the fabric of our communities return long-lasting benefits to society, our employees, and our company. We primarily focus our philanthropic support in the areas of education, poverty and health and the environment.
In 2016, The Chubb Charitable Foundation – International funded computers, libraries and English study lab equipment in four primary schools in Central Vietnam: Xuan Lam (Phu Yen province), Trieu Do No.1 (Quang Tri province), Quang Thanh No.2 (Thua Thien Hue province) and Vinh Thanh No.2 (Nghe An province).
In 2015, The Chubb Charitable Foundation – International, in partnership with Chubb Life in Vietnam, funded the rebuilding of the Yen My Primary School in Yen My Commune, Nong Cong District, Thanh Hoa Province.
About Chubb Life in Vietnam
Chubb is the world's largest publicly traded property and casualty insurance company. 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. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited 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 31,000 people worldwide.
Chubb Life, the life insurance division of Chubb, operates in 30 countries around the world. In Asia, Chubb Life operates in Hong Kong, Indonesia, Korea, Taiwan, Thailand and Vietnam, and participates in a joint-venture in China. Chubb Life has been in Vietnam since 2005, and launched its Fund Management Company (Chubb Life Insurance Vietnam Company Limited) in 2013. To meet the financial protection and security needs of its broad range of customers, Chubb Life in Vietnam (Chubb Life Insurance Vietnam Company Limited) offers a range of life protection, savings, and investment-linked insurance solutions through its agents, banks and its network of 46 offices. Additional information can be found at: http://life.chubb.com/vn.