Prudential Vietnam profit falls 14% to $124 mln in 2023
Life insurer Prudential Vietnam recorded post-tax profits of VND3,113.9 billion ($124.4 million) in 2023, down 14.4% year-on-year, according to the firm’s financial statements.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam passes amended credit institution law with cross ownership adjustments
The National Assembly, Vietnam’s highest legislative body, passed the amended Law on Credit Institutions Thursday with 91.28% of votes in favor.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Fewer Japanese firms in Vietnam expect 2023 profits
The number of Japanese firms in Vietnam expecting to make a profit this year has fallen 5.2 percent year-on-year to 54.35%, according to a Japan External Trade Organization (JETRO) report.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam secures $36 mln in fintech funding from Jan-Sep: UOB
Vietnam secured $36 million in nine finance technology (fintech) deals in the first nine months of this year, according to the Singapore-based United Overseas Bank's (UOB) FinTech in ASEAN 2023 report.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Insurer Generali Vietnam appoints new CEO
Italy-invested life insurer Generali Vietnam has appointed veteran insurance professional Nguyen Phuong Anh as its new CEO.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam insurance premiums fall 6.9% to $6.8 bln in 9 months
Total insurance premium collection in Vietnam fell 6.9% year-on-year to VND165.6 trillion ($6.81 billion) in the first nine months of this year, the General Statistics Office reported.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam H1 profits down for Prudential, Dai-ichi Life, up for AIA
Foreign-invested life insurers in Vietnam have posted contrasting H1 post-tax profit figures, with that of Prudential down 40.5%, Dai-ichi Life's down 2.2%, and AIA’s up 19.2% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Dai-ichi Life Vietnam posts $53.4 mln profit in H1
Dai-ichi Life Vietnam, the Vietnamese subsidiary of Japan’s largest life insurer Dai-ichi Life, recorded a post-tax profit of VND1,275 billion ($53.4 million) in the first half of this year, down 2.2% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Major insurer PVI posts $13.6 mln Q2 profit, up 61%
Vietnamese insurance giant PVI Holdings reported net revenue of VND1.59 trillion ($67.3 million) and after-tax profit of VND322 billion ($13.6 million) in the second quarter of this year, up 1% and up 61% year-on-year, respectively.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Prudential, MB Ageas, Sun Life, BIDV Metlife guilty of bancassurance violations
Life insurers Prudential, MB Ageas, Sun Life, and BIDV Metlife have been found guilty of bancassurance violations and will have to pay administrative fines to fix their wrongdoings, the Ministry of Finance said on Friday.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vice chairman of Vietnam insurer PTI resigns
Vietnam insurance company PTI has received resignation letters from board members Kim Kang Wook, Bui Van Toi, and Park Han Woong.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Finance ministry to release life insurer inspection results
Vietnam’s Ministry of Finance has concluded its inspections into four life insurers and will publicize the results later this month, the ministry said at a regular press conference on Friday.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
South Korea's DB Insurance to buy 75% stake in Vietnam insurer BSH
Shareholders in Vietnam’s Saigon-Hanoi Insurance (BSH) are set to sell 75 million shares, equivalent to a 75% stake, to DB Insurance Co., Ltd., a major non-life insurer in South Korea.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
No VAT reduction for telecom, banking, securities, real estate, insurance sectors
The Vietnamese government on Wednesday proposed to the legislature a 2-percentage-point reduction in value added tax (VAT) for goods and services, except for those in the telecom, real estate, securities, insurance and banking sectors.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
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.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Prudential Vietnam’s profit up 8-fold to $155 mln in 2022
Life insurer Prudential Vietnam recorded an after-tax profit of VND3.64 trillion ($155 million) in 2022, a 7.7-fold increase year-on-year, according to the firm’s report.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Insurer Manulife records $236 mln loss after 25 years in Vietnam
Canada-headquartered life insurer Manulife made an accumulated after-tax loss of nearly VND5.53 trillion ($236 million) by the end of 2022 after nearly 25 years in Vietnam.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Insurance premiums in Vietnam grow 6.8% to $2.5 bln in Q1
Insurance premiums in Vietnam grew 6.8% year-on-year to VND59.46 trillion ($2.53 billion) in the first quarter of this year, according to the General Statistics Office.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Insurer Dai-ichi Life Vietnam posts $73 mln profit in Apr-Dec 2022
Japanese-backed insurer Dai-ichi Life Vietnam recorded a post-tax profit of VND1.72 trillion ($73 million) in April-December 2022, according to its parent firm’s financial statement for the first three quarters of fiscal year 2022.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Manulife records core earnings of $309 mln from Vietnam operation in 2022
Canada-headquartered life insurer Manulife recorded a core earning of $309 million from Vietnam operation in 2022, up 6.55% year-on-year, according to the parent firm’s latest report.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Prudential Vietnam records $327 mln operating profit in 2022
Prudential plc earned a pre-tax operating profit of $327 million from its Vietnam operations in 2022, up 3.15% year-on-year, according to the multinational insurer's annual report.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
PVI plans switch from Hanoi bourse to HCMC exchange
Vietnamese insurance firm PVI, a member of the state-owned Petrovietnam, is making preparations to shift its shares listed on the Hanoi bourse to the Ho Chi Minh Stock Exchange, and is committed to improving its earnings per share (EPS).
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Authorities clamp down on insurance fraud
The State Bank of Vietnam (SBV) and the Ministry of Finance have said they will deal with credit credit institutions that conned customers into buying insurance rather than simply taking out loans.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Major insurer PVI posts $37 mln profit in 2022
Vietnamese insurance giant PVI Holdings reported an after-tax profit of VND877 billion ($37.4 million) in 2022, up 0.8% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Insurance premiums up 15% to $10.6 bln in 2022
Insurance premiums in Vietnam increased 15.1% year-on-year to VND251,306 billion ($10.6 billion) in the year to December 12, the Insurance Association of Vietnam reports.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
LienVietPostBank, Dai-ichi Life Vietnam ink 15-year bancassurance deal
Dai-ichi Life Vietnam and LienVietPostBank signed a 15-year exclusive bancassurance partnership agreement Tuesday.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Baoviet, Manulife, Prudential top life insurers in Vietnam
Baoviet Life, Manulife, and Prudential were the top life insurers in Vietnam in terms of insurance premiums in the first nine months of the year.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam economy to recover strongly in 2022: ADB
Vietnam's economy is expected to rebound strongly in 2022 and even grow further in 2023, said ADB analysts.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Insurer Manulife Vietnam reports $206 mln loss after tax in 2021
Despite rising net premium, life insurer Manulife Vietnam recorded a loss after tax of VND4,741 billion ($206.5 million) in 2021, 2.9 times higher than its 2020 loss.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Insurer MIC raises foreign ownership cap to 100%
Vietnam’s Military Insurance Corporation (MIC) on Tuesday raised its foreign ownership cap from 49% to 100% in a fresh move to seek international investment and expertise.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
- Editor’s Picks
-
No offshore wind projects in Vietnam until 2028: global council
-
Vietnam-Singapore Industrial Park JV earns $67 mln profit in 2023
-
Techcombank plans 10% stake issue to foreign strategic investors
-
Vietnam needs to build more highways: logistics firm exec
-
Vietnam central bank pumps cash to save troubled lender SCB
- Most Read
- Editor’s Picks
-
No offshore wind projects in Vietnam until 2028: global council
-
Vietnam-Singapore Industrial Park JV earns $67 mln profit in 2023
-
Techcombank plans 10% stake issue to foreign strategic investors
-
Vietnam needs to build more highways: logistics firm exec
-
Vietnam central bank pumps cash to save troubled lender SCB
