00:00 | 20/01/2017 Companies
(VEN) - January 18th, 2017 Dai-ichi Life Insurance Company of Vietnam, Limited (“Dai-ichi Life Vietnam”) solemnly organized a ceremony to celebrate its 10th anniversary of establishment in Vietnam.
The ceremony reviewed the 10-year journey of establishment and development of Dai-ichi Life Vietnam with many important milestones, marking exceptional achievements in terms of its business scale and position, as well as meaningful contributions to the national life insurance sector, the country and the people of Vietnam through 4 strategic commitments: “Sustainable Growth”, “Customer Service Excellence”, “Operational Excellence”, and “Lifetime Partner”.
Accordingly, upon finishing its 10th businesss year, Dai-ichi Life Vietnam scored impressive outcomes with total premium for the year 2016 reaching well above 5,300 billion dong, a 51% growth over that of 2015, and increasing by 14.4 times compared to the early first year of establishment in 2007. Regarding business scale, Dai-ichi Life Vietnam has expanded the network to nearly 200 offices, more than 900 staffs and 60,000 professional financial consultants, proudly serving nearly 1.6 million customers across the country.
Adhering to its strategy of sustainable speeding-up, from a small business with a modest market share of 4.4% when joining the life insurance market in Vietnam, Dai-ichi Life Vietnam gained a market share of over 10% in the end of 2016, affirming its position among the 4 largest life insurance companies in Vietnam. Dai-ichi Life Vietnam is also ranked 3rd among the Top 5 most prestigious life insurance providers, announced by the Vietnam Report in July, 2016.
Together with its fast-paced and sustainable development, Dai-ichi Life Vietnam has continuously received the strong support from its parental company – Dai-ichi Life Holdings, evidenced by 3 times of capital increase. Specifically, after raising charter capital from US$ 25 million to US$ 72 million at the end of the first year, Dai-ichi Life Vietnam continued to increase the capital to US$ 100 million to meet the rapid expansion demand. And also this morning, 18th January, 2017, the company received the licence from the Ministry of Finance, approving the increase of capital up to USD 117 billion for investing in new distribution channels.
Besides, Dai-ichi Life Vietnam has also cooperated with many reputed partners such as HDBank, VNPost, Mocap, LienVietPostBank, ACB, Sacombank, VPBank, VP Securities, OCB, BAC A Bank,... in order to deliver premier life insurance products and services closer to people in all parts of Vietnam.
As a Japanese wholly-owned company, during the past decade, Dai-ichi Life Vietnam has applied the “Kaizen” philosophy into every corner of business by ceaselessly making innovation for its financial solutions, aiming to serve different needs of all customers and bring utmost customer satisfaction through a diverse portfolio of products with superior advantages. In addition, Dai-ichi Life Vietnam constantly affirms its impeccable quality of services by organizing a wide array of customer loyalty and appreciation programs, from the “Lifetime partner” Bonus Point and promotion programs, to many premium collection and e-invoice services.
Mr. Takashi Fujii, Chairman of the Member Council of Dai-ichi Life International Asia Pacific, cum Chairman of Dai-ichi Life Vietnam, shared: “After 10 years entering the Vietnamese market, Dai-ichi Life Vietnam has built a solid foundation and reputation as one among the four leading life insurance companies in Vietnam. However, in comparison with the 110-year development journey of our parent company, the 10-year duration is just the beginning of many more enduring contributions that we are heading for the future. Committed to the mission “For a better life” from the early establishment to today’s remarkable growth in scale and position, Dai-ichi Life Vietnam will continue to spare no effort in becoming a “Lifetime partner” with the country and Vietnamese people by boosting our inner strength and overall man power, while striving to pioneer in new aspects, bring up significant changes for the sake of the community, therefore realize our objective of becoming the best life insurer in Vietnam. By this chance, I would like to express my sincere gratitude to the Ministry of Finance for trust and granting lisence, as well as facilitating our business in Vietnam. Also, my great thanks to all of our customers and partners who have laid trust in and support to us, which serve as a huge motivation for all achievements that we have today.”
Beside business endeavors, Dai-ichi Life Vietnam has proudly been the pioneer in many charitable and social programs with contribution of over 17 billion dong, such as financing eye operations for the poor blinds, installing water purifying system for schools in remote areas, funding scholarships for the needy and hard-working pupils, offering relief to the families affected by floods in the Central provinces, donating warm clothes for the highland children, blood donation program, rural bridge building program,...
On the celebration of its 10th anniversary, the CSR foundation “For a better life” of Dai-ichi Life Vietnam handed-over the symbolic cheque, committing the donation of 1.2 billion dong (one billion two hundred million dong) for the Sponsoring Association for Poor Patients of HCM city to perform the charity program “Bring sight to the poor blind” for 3 consecutive years 2017-2019.
Founded in 1902, Dai-ichi Life (the core business of Dai-ichi Life Group) is one of the leading life insurance companies in Japan with total assets worth US$ 443 billion, insurance premium revenue of US$ 49.5 billion (as of March 31, 2016). Besides Vietnam business, Dai-ichi Life has stepped into its life insurance business in India, Thailand, Australia, Indonesia and the United States. Dai-ichi Life Group has opened Regional Head offices in Singapore (AsiaPacific) and in New York (North America). Since 01/10/2016, Dai-ichi Life shifted to a Holding Company Structure (Dai-ichi Life Holdings).
As a member of Dai-ichi Life Group, Dai-ichi Life Insurance Company of Vietnam, Ltd. (“Dai-ichi Life Vietnam”) was established in January of 2007. This is the first foreign market that Dai-ichi Life expands its business through a 100%-owned subsidiary.