Prudential maintains high liquidity margin of 193%

Prudential Vietnam Life Insurance Company Limited ("Prudential Vietnam") has just announced its 2024 annual financial report. Accordingly, at the end of the 2024 fiscal year, Prudential Vietnam recorded outstanding results such as: total assets reached VND 189,051 billion, up 7%; total investment assets reached VND 168,258 billion, up 10.3%. Of which, the total value of contribution to the economy through investment in government bonds reached VND 73,122 billion.

2024 continues to be a year of effective investment with revenue from investment activities reaching VND 11,927 billion, up 12%. Of which, revenue from the investment asset portfolio of the unit-linked fund reached VND 3,468 billion. All of this revenue is part of the benefits of customers participating in unit-linked insurance products.

Total revenue from insurance business activities reached VND 23,251 billion. Of which, annual revenue from new exploitation contracts reached VND 3,043 billion.

Pre-tax profit reached VND3,339 billion. Total compensation and insurance payments reached VND14,304 billion, up 8.6%.

Mr. Conor Martin O'Neill, Deputy Chief Financial Officer of Prudential Vietnam, said: "In 2024, Prudential Vietnam has made solid progress in strengthening its operational capabilities and enhancing the customer experience, amidst many changes in the market. Although economic fluctuations have affected customers' financial planning habits and decisions, the need for long-term financial protection and accumulation remains very strong in Vietnam."  

Also according to him   Conor , Prudential Vietnam is focusing on boosting sales quality, while ensuring that the group's products not only meet customer needs but also comply with new regulations of the Insurance Business Law. "We are preparing to launch new life insurance solutions to the market and our commitment to customer centricity has always been a solid foundation for us when developing these solutions," said Mr. Conor.

Also in 2024, Prudential's signature financial education program Cha-Ching reached more than 32,000 Vietnamese students, bringing the total number of students in schools participating in Cha-Ching to more than 111,000.

"With a high liquidity margin of 193%, Prudential Vietnam is in a strong position to deliver on its insurance benefit payment commitments, ensuring financial security for customers. Through continuous innovation and sustainable growth orientation, we are committed to accompanying our customers on their journey of planning to protect the financial achievements they and their families have worked hard to build," Mr. Conor emphasized.

In 2024, with many regulations of the Law on Insurance Business officially implemented, Prudential Vietnam continues to take customers as the guiding principle in business activities.

Thanks to the application of technology, in the past year, 87% of insurance benefit claim applications at Prudential were submitted online (e-claim) via the official Zalo page and PRUOnline portal.

Prudential Vietnam continues to commit to investing in technology-based innovations, including the application of artificial intelligence (AI) to optimize operations and improve service efficiency, specifically:

• The 'Independent Check' process was created to verify personal information and customer needs when participating in insurance.
• The official launch of the "Insurance Calculator" aims to help potential customers choose protection solutions that suit their financial capabilities.
• The "Voice Recording" process during consultation for 100% of new customers, integrated with artificial intelligence technology (generative AI) to ensure protection solutions are suitable for customers' actual needs.

In 2024, Prudential Vietnam continued to implement many initiatives to enhance the capacity of its human resources through nurturing a high-performance culture. Core learning and capacity development programs reached 5,160 training hours for more than 1,500 employees. The "Development Day" initiative was implemented with 7,980 hours of self-study. The number of hours of online self-study on the Udemy platform reached 4,567 hours.

Summary of Prudential Vietnam's business results in 2024

In terms of the group's business results, Prudential has made progress in implementing its strategy to improve operational capabilities and drive growth in 2024. The group recorded an 11% increase in new business profit and generated a surplus of USD 2,642 million from business operations as expected.

In 2025 and looking forward to 2026, Prudential aims to continue to develop its capabilities, affirming its strong position for outstanding growth. Looking further, based on the focus on developing quality new businesses, while effectively managing the existing contract portfolio and improving operating variables, Prudential is confident of achieving its financial and strategic targets by 2027 as well as creating sustainable value for shareholders and stakeholders in the Asian and African markets.

Prudential Vietnam is a member of Prudential plc - a group providing life insurance, health insurance and asset management solutions in 24 markets across Asia and Africa .

Prudential's mission is to be the most trusted companion and protector for today's and tomorrow's generations, by providing simple and accessible financial and health solutions.

By the end of December 2024, Prudential has a charter capital of VND 7,698 billion and operates all life insurance businesses, serving millions of Vietnamese customers.

Source: https://thanhnien.vn/prudential-duy-tri-bien-thanh-khoan-cao-193-18525040910555519.htm