Dai-ichi Life Vietnam posts profit of $113 mln in 2022
Life insurer Dai-ichi Life Vietnam earned a post-tax profit of VND2.65 trillion ($113 million) in 2022, down 5.1% year-on-year, according to the firm’s audited report.
Dai-ichi Life is among the biggest life insurers in Vietnam. Photo courtesy of the firm.
Dai-ichi Life Vietnam’s insurance business revenue increased by 19.19% year-on-year to VND21.36 trillion ($910.8 million) last year.
The company recorded revenue of VND2.48 trillion ($105.7 million) from its financial activities, and VND6.44 billion ($274,600) from other sources.
Last year, Dai-ichi Life Vietnam paid insurance indemnification of VND10.27 trillion ($437.88 million), up 25.9% year-on-year.
The Japanese-backed insurer’s total assets rose 25.45% year-on-year to VND58.04 trillion ($2.48 billion) last year. Its liabilities went up 21.4% to VND39.88 trillion ($1.7 billion), while its equity climbed 35.4% to VND18.161 trillion ($774.5 million).
Dai-ichi is one of the biggest life insurers in Vietnam. In terms of insurance premium, Baoviet Life ranked first in 2022 with VND41.68 trillion ($1.78 billion), up 10.1% year-on-year, followed by Prudential Vietnam, Manulife, and Dai-ichi Life.
The company recorded an insurance premium of VND21.83 trillion ($931.05 million) last year, up 17.2% year-on-year. However, its after-tax profit fell to VND2.65 trillion ($112.88 million), down 5%.
Insurance premiums in Vietnam grew 6.8% year-on-year to VND59.46 trillion ($2.53 billion) in the first quarter of 2023, according to the General Statistics Office. Of this, the figure for life insurance increased slightly by 3.1% year-on-year to VND39.59 trillion ($1.69 billion), versus growth of 15% in Q1/2022.
Manulife Vietnam, also a top life insurer in the country, made a post-tax profit of VND2.56 trillion ($109.26 million) in 2022, in contrast to a loss of VND4.74 trillion ($202.2 million) in 2021.
Prudential Vietnam recorded an after-tax profit of VND3.64 trillion ($155 million) in 2022, up 7.7-fold year-on-year, according to the firm’s latest report for the year.
- Related News
- Read More
Vietnam mulls opening door for private investment in small modular reactors
Vietnam’s Ministry of Industry and Trade has drafted a parliamentary resolution that, for the first time, would allow private companies to participate in the development of small modular nuclear reactors (SMRs).
Energy - Fri, October 17, 2025 | 4:37 pm GMT+7
Kido seeks buyer for remaining 49% stake in frozen food affiliate
Kido Group (HoSE: KDC), a leading food company in Vietnam, has approved a plan to divest the firm's remaining 49% stake in its affiliate Kido Frozen Food JSC (Kido Foods).
Companies - Fri, October 17, 2025 | 4:25 pm GMT+7
Le Ngoc Quang appointed Danang city's Party chief
Le Ngoc Quang, a Party Central Committee member and Party chief of Quang Tri province, has been appointed Party chief of Danang for the 2025-2030 term - the highest position in the city, central Vietnam's economic hub.
Politics - Fri, October 17, 2025 | 4:17 pm GMT+7
T&T Group seeks to reshape north-central Vietnam’s urban landscape with major projects
Multi-sector conglomerate T&T Group is developing a model eco-urban complex in Ha Tinh province and plans to build a massive 236-hectare urban area in neighboring Nghe An, with an aim to reshape north-central Vietnam's urban landscape.
Investing - Fri, October 17, 2025 | 2:44 pm GMT+7
Toyota plans $359 mln plant expansion in northern Vietnam
Toyota Motor Vietnam (TMV) plans to invest about VND9.46 trillion ($359.2 million) in the first phase of its plant expansion project in Phu Tho province.
Investing - Fri, October 17, 2025 | 2:09 pm GMT+7
PVI Insurance sees 9-month profit before tax more than doubling
PVI Insurance has reaffirmed its position as the No. 1 non-life insurer in Vietnam, with total revenue increasing nearly 1.4 times in the first nine months of 2025 and pre-tax profit more than doubling year-on-year - surpassing its full-year targets for both revenue and profit.
Companies - Fri, October 17, 2025 | 9:08 am GMT+7
Vingroup to develop 4,600ha coastal urban project in northern Vietnam
A consortium of Vingroup (HoSE: VIC) and its real estate arm Vinhomes (HoSE: VHM) will develop a 4,600-hectare coastal urban complex in Ha An ward, Quang Ninh province, following local authorities’ approval of a zoning plan.
Real Estate - Fri, October 17, 2025 | 8:30 am GMT+7
Indonesia resumes int’l carbon trading after 4-year hiatus
Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus.
Southeast Asia - Thu, October 16, 2025 | 9:23 pm GMT+7
Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles
Investors of a $2.56 billion LNG-fired power plant in Hung Yen province have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.
Energy - Thu, October 16, 2025 | 9:04 pm GMT+7
Vietnam to soon raise taxpayers' personal deduction: official
The personal income tax deduction in Vietnam is "very likely" to increase to VND21.7 million ($823,940) per month, including VND15.5 million (588,530) for the taxpayer and VND6.2 million ($235,410) for each dependent.
Finance - Thu, October 16, 2025 | 6:25 pm GMT+7
Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam
The index climbed to 66.5, surpassing pre-tariffs level and reaching its highest in three years – showcasing resilience and adaptability amid global headwinds and evolving U.S. tariff pressures.
Economy - Thu, October 16, 2025 | 4:36 pm GMT+7
Vietnam's stock market watchdog suspends two Grant Thornton auditors
Vietnam's State Securities Commission (SSC) has suspended two auditors from Grant Thornton Vietnam after determining that the 2024 audited financial statements of Saigon Water Infrastructure Corporation (HoSE: SII) failed to meet required standards.
Finance - Thu, October 16, 2025 | 3:35 pm GMT+7
Law No. 56 a major policy breakthrough for Vietnam's stock market development
The Law No. 56, effective January 1, 2025, is one of the major legal breakthroughs in recent years that will enhance the transparency and operational efficiency of the Vietnamese stock market.
Finance - Thu, October 16, 2025 | 2:30 pm GMT+7
WHA Group breaks ground on smart technology industrial zone in central Vietnam
Thailand's WHA Group on Tuesday broke ground on a world-class, modern, and environmentally friendly industrial zone in central Vietnam, namely the WHA Smart Technology Industrial Zone-Thanh Hoa.
Real Estate - Thu, October 16, 2025 | 2:00 pm GMT+7
Vietnam a key partner in Murphy Oil’s global strategy: exec
Vietnam remains a key partner in Murphy Oil’s global business strategy, said Eric Hambly, the U.S. corporation's president and CEO.
Companies - Thu, October 16, 2025 | 12:06 pm GMT+7
VNPT, Qualcomm debut Vietnam’s 1st original design-based excellence center
State-owned Vietnam Posts and Telecommunications Group (VNPT) and Qualcomm have officially launched the VNPT-Qualcomm Excellence Center (VQEC), the first facility in the country to operate under an original design co-development model using Qualcomm’s core technologies.
Companies - Thu, October 16, 2025 | 8:41 am GMT+7
