14:23 | 19/01/2016 Companies
(VEN) - January 18, Dai-ichi Life Insurance Company of Vietnam, Limited (Dai-ichi Life Vietnam) and Vietnam Post Corporation (VNPost) held a ceremony to sign the long-term Exclusive Life Insurance Agency Agreement.
Minister of Information and Communications Nguyen Bac Son witnessed the signing and valued the signing for cooperation between Dai-ichi Life Vietnam, a member of Dai-ichi Life - the leading life insurance group in Japan, and VNPost - the biggest state-owned postal enterprise, has marked a significant milestone of both enterprises in contributing to the strengthening and enhancing the good relation of friendship and cooperation between the two countries Vietnam and Japan, expressing the humane desires of both parties in bringing long-term and stable social security to the people in all parts of the country, as well as contributing to the strong growth of the insurance industry and Vietnam's economy.
With this contract, for the next 15 years, Dai-ichi Life Vietnam will be the exclusive business partner providing life insurance products through the VNPost’s network of post offices in 64 provinces all over the country. At the same time, Dai-ichi Life Vietnam will introduce VNPost products and postal services to its customers.
As the leading postal services provider of Vietnam, VNPost will promote the distribution of superior financial protection products offered by Dai-ichi Life Vietnam to the people through its network of post offices spreading nationwide. All customers who joined an insurance policy with Dai-ichi Life Vietnam will enjoy the convenience of paying insurance premium through the collection service at more than 11,000 current service points of VNPost. This will contribute to bring maximum satisfaction for customers, especially those in the remote provinces.
Speaking at the signing ceremony, Mr. Takashi Fujii, Chairman of the Member Council of Dai-ichi Life Vietnam, said: "The cooperation with VNPost is part of our strategy to persify distribution channels of Dai-ichi Life Vietnam, serving our desire to create opportunities for all people in Vietnam to access to the company's advanced products and services of life insurance, especially those living in rural and remote areas”.
January 18, on the ninth anniversary of the establishment, Dai-ichi Life Vietnam has also officially received the Amended license issued by Ministry of Finance, approving the company to increase its chartered capital from US$ 72 million (VND 1,141 billion ) up to US$ 87 million (approximately VND 1,477 billion). Following stage 1 – increasing capital to US$ 87 million, Dai-ichi Life Vietnam is progressively preparing stage 2 of its capital increasing, aiming to a total of US$ 100 million to be completed in the first quarter of 2016. With a chartered capital of US$ 100 million, Dai-ichi Life Vietnam will become one of the leading life insurance companies in terms of market capital in Vietnam.
To celebrate its 9-year anniversary (18/1/2007 - 18/1/2016), Dai-ichi Life Vietnam has achieved excellent business performance in 2015 with total premium revenue over VND 3,500 billion, a growth of over 40% compared with 2014. After only 9 years in the business, Dai-ichi Life Vietnam has grown to more than 9 times in total premium revenue.
Mr. Takashi Fujii, Chairman of the Member Council of Dai-ichi Life Vietnam, said: "We are happy that our mother company Dai-ichi Life Japan has trusted and injected more capital to meet our demand of expanding the sustainable business in Vietnam Looking forward to the 10th milestone of being a lifetime partner to Vietnamese people (18/01/2017), we are committed to sparing no effort to developour available resources , to continue our expansion of business network as well as to improve our service quality in order to reach 10% market share in the life insurance industry by the end of 2016”.
Mr. Tran Dinh Quan, General Director of Dai-ichi Life Vietnam, added: "Continuing to implement our sustainable growth strategy and our commitment to be the "Lifetime partner" to Vietnamese people, the year of 2016 is promisingly expected to be another “dynamic” year of Dai-ichi Life Vietnam in product innovation, internal strength development, recruitment and training speeding up, customer service enhancing, distribution channel persifying as well as local community support”.