11:51 | 17/09/2020 Companies
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.
|Mrs. Nguyen Kim Cuc - Territory Vice President, Executive Agency Management of Chubb Life Vietnam, receives the “Top 10 Most Reputable Insurance Companies 2020” award|
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.