Prudential Vietnam is steadfast in its goal of responsible business.

Prudential Vietnam Life Insurance Company Limited (“Prudential”) officially announced its 2023 Annual Financial Report. Prudential’s Financial Report shows positive results, demonstrating effective operations and investments, ensuring its role in the economy and fulfilling its responsibilities to customers.

By the end of 2023, although net revenue from insurance business decreased by 12.9% to VND 26,594 billion, Prudential's total revenue reached VND 37,250 billion, up 7.6%. This result was contributed by revenue from investment activities. In 2023, Prudential recorded a profit after tax of VND 3,114 billion. Prudential 's total asset value reached VND 176,673 billion, up 9.2%. Total assets invested in government bonds reached VND 72,116 billion, up 14.1%. Prudential also maintained a high liquidity margin, ensuring payment capacity for customers at 144.5%. Total insurance compensation reached VND 1,900 billion, up 16%. The total number of insurance compensation payments in 2023 was 179,000 cases. By the end of the year, more than 82% of customer claims were submitted online, with nearly 20% of claims processed within 30 minutes (up 5% from 2022). Mr. Phuong Tien Minh - General Director of Prudential Vietnam said: "The temporary challenges of 2023 open up opportunities for us to focus on improving the quality of customer service and improving the quality of distribution channels. The timely introduction of the new Law on Insurance Business helps the entire insurance industry to re-evaluate and improve to become better, towards the interests of insurance participants. We will continue to invest in the necessary activities to ensure compliance, enhance sales quality, as well as enhance the experience for our customers".

Along with the commitment to comply with the Law on Insurance Business and always "Taking customers as the guiding principle", last year, Prudential implemented and adjusted the Life Insurance Contract Documents, bringing peace of mind and satisfaction to customers. In 2023, Prudential was in the group of leading Life Insurance companies in terms of Customer Satisfaction and Willingness to Recommend Index (rNPS). With a long-term and sustainable investment orientation in Vietnam, from the second half of 2023, Prudential will successively open a chain of 3 customer care centers with a new model in Da Nang City and Ho Chi Minh City. In 2023, Prudential will also continue to invest in community activities in the 3 areas ofEducation , Safety, and Healthy Living with a total budget of nearly 17 billion VND. "2024 is a special milestone for Prudential as we celebrate 25 years of operations in Vietnam. We affirm that we will always be a pioneer in complying with legal regulations, continuing to actively contribute to sustainable development through community support projects and always accompanying the Vietnamese Government in realizing the goal of building a green economy" , Mr. Phuong Tien Minh added. Prudential is currently one of the financial institutions acting under the Fair Energy Transition Agreement (JETP) with a commitment scale of 15.5 billion USD, aiming to accelerate this capital channel into Vietnam. In 2023, Prudential organized the workshop "Green Bonds & Transformational Investments in Vietnam" to collect feedback on how to support the growth and development of the green bond market in Vietnam. Most recently, Prudential launched the unit-linked fund "PRUlink Green Future". This is the first unit-linked fund in the life insurance market, providing customers who own unit-linked insurance products with the right to choose investments in a sustainable development direction, in line with global trends.

In 2023, Prudential was recognized by domestic and international organizations with award categories such as: - "International Life Insurer of the Year" from Insurance Asia Awards. - "ESG Initiative of the Year" - for practical projects that directly contribute to solving social issues and sustainable development from Insurance Asia Awards - Top 100 sustainable enterprises (CSI 2023 Program organized by the Vietnam Federation of Commerce and Industry VCCI) - "Excellent and Sustainable Enterprises in Asia" (The Asia Corporate Excellence & Sustainability Awards (ACES), recognizing pioneering companies in Asia, having a strong influence on human resources, resources and global impact. - "Company with Excellent Culture" (Gold category) at the HR Excellence Awards ceremony in Singapore thanks to its focus on building corporate culture, promoting employee development and welfare. - "Great Place to Work 2024" Award, recognizing the commitment to sustainable operations in Vietnam, focusing on optimizing resources, ensuring effective business.

Source: Prudential Vietnam

Source: https://phunuvietnam.vn/prudential-viet-nam-kien-dinh-voi-muc-tieu-kinh-doanh-co-trach-nhiem-20240408201229.htm