Ho Chi Minh City, September 15th 2020 – Chubb Life Insurance Vietnam Company Limited (Chubb Life Vietnam) has been awarded the “Top 10 Most Reputable Insurance Companies 2020” and the “Top 500 Fastest Growing Enterprises in Vietnam 2020” (FAST500), in a ceremony co-organized and announced by Vietnam Report and VietnamNet.
It is the fifth consecutive year that Chubb Life Vietnam has ranked among the top 10 most prestigious life insurers, thanks to the company’s financial strength, excellent business operations, exceptional product portfolio and customer service. Award-winning companies have to meet specific criteria including financial capability, a media coding evaluation, and pass comprehensive surveys from customers, insurers and industry experts.
2020 also marks the third year running that Chubb Life Vietnam retains its FAST500 title, ranking second out of seven award-winning insurers and 79th of companies overall. The results are based on Vietnam Report’s independent research and assessment under the Compound Annual Growth Rate (CAGR) criteria in terms of revenue and business efficiency over the last four years. Other features such as total assets, total employment, net profit after tax, corporate reputation in the media, company’s size and market influence are also assessed.
Mr. Lam Hai Tuan, Chairman and Country President of Chubb Life Vietnam said: “Chubb Life Vietnam always prioritizes a sustainable development strategy, focussing on business efficiency, strengthening corporate reputation and continually improving products and service quality for customers, while delivering excellent benefits.
“Being named as one of the top 10 insurers and top 500 fastest growing enterprises is proof of Chubb Life Vietnam’s outstanding leadership. It is also recognition of our company’s positive contribution towards the growth of the industry and Vietnam’s economic development overall,” Mr. Lam Hai Tuan added.
According to Chubb Life Vietnam’s Concise Financial Statements for last year, the company achieved double-digit growth across all business indicators. Specifically, its total gross written premium increased by 17 per cent and profit before tax was up 50 per cent year-on-year. It also maintains a high solvency ratio of 246 per cent above and beyond the regulatory requirement. In addition, Chubb Life Vietnam has paid more than VND 161 billion in tax and other legal obligations.
Chubb Life Vietnam’s development strategy prioritizes technology implementations to stay ahead and grow its market position in the digital age.
About Chubb Life in Vietnam
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, 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, Paris and other locations, and employs approximately 33,000 people worldwide. Additional information can be found at: www.chubb.com.
Chubb Life is the international life insurance division of Chubb. In Asia, Chubb Life operates in Hong Kong SAR, Indonesia, Korea, Myanmar, 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 Fund Management 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, health, savings, and investment-linked insurance solutions through its agents, banks and its wide network of offices.
Additional information can be found at: http://life.chubb.com/vn
Tran Thi Tuyet Minh
Chubb Life Insurance Vietnam Co., Ltd
+84 (28) 3827 8989 – Ext: 8965
Head of Communications, Chubb Life