Insurer Generali Vietnam appoints new CEO

Italy-invested life insurer Generali Vietnam has appointed veteran insurance professional Nguyen Phuong Anh as its new CEO.

Anh brings to her new assignment years of accumulated experience with other major insurers in Vietnam including AIA, Prudential and FWD.

She is expected to use her experience and skills to help Generali Vietnam achieve sustainable growth, the insurer said in a statement Monday.

"Our business in Vietnam has gone from strength to strength and I’m looking forward to keeping this momentum going and continuing to serve our valued customers in the country," Anh said.

Commenting on Anh’s appointment, Generali International CEO Jaime Anchustegui Melgarejo said: "Asia is a critical region and we are committed to investing in our people to strengthen our leadership in accordance with our Lifetime Partner 24 strategy."

Generali Vietnam recorded post-tax profits of VND449.8 billion ($18.3 million) on revenues of VND3.18 trillion ($129.5 million) in the first half of 2023, down 0.07% and 3.75% year-on-year, respectively, according to the firm’s financial statement.

Of the first-half revenue, VND1.77 trillion ($72.1 million) came from its insurance business, down 12.8% year-on-year; while the rest came from financial and other services. The firm spent VND863 billion ($35.1 million) on paying insurance indemnification in the six-month period, up 35% year-on-year.