Insurer announces additional increase in charter capital

AIA Viet Nam Life Insurance Co Ltd announced on Thursday that it had increased its charter capital from VND970 billion (US$50.7 million) to VND1.4 trillion ($54.2 million).

This increase, approved by the Ministry of Finance on February 11, is the company’s fifth since it began operations in Viet Nam in 2000.

It is part of AIA Viet Nam’s strategy to strengthen its financial capability and expand its business, says a company press release.

Over recent years, AIA Viet Nam had been focusing on enhancing its customer service quality by bettering its claim and underwriting procedures, developing distribution channels in order to introduce diversified and innovative products, it said.

“This increase in charter capital is part of our commitment to grow the value of the AIA business. We believe it will facilitate our business investment in order for us to better compete in the marketplace and better serve our customers,” said Jamie Rains, AIA Viet Nam’s CEO.

Established in 2000 as a 100 per cent foreign-owned company, this year AIA Viet Nam marks the 10th anniversary of its operations in the country.

Tags: AIA Vietnam, Vietnam insurance, Vietnam insurance industry, Vietnam insurance market, Vietnam insurance sector, Vietnam Vietnam insurers