Manulife Vietnam settled claims worth nearly VNĐ7 trillion (US$298.55 million) in 2022, a 36 per cent increase from the previous year. The first foreign-owned life insurer in the country now serves over 1.5 million customers. — Photo courtesy of the company

HCM CITY — Manulife Vietnam settled claims worth nearly VNĐ7 trillion (US$298.55 million) last year, a 36 per cent increase from the previous year, the insurance company said in a press release.

It reported revenues of VNĐ33.09 trillion ($1.4 billion) last year. Its total assets reached nearly VNĐ106.38 trillion ($4.5 billion), an increase of 14 per cent.

It also achieved a turnaround to make a profit in 2022 after suffering losses the previous year.

It has a solid financial foundation with a charter capital of VNĐ22.22 trillion ($947.19 million) and solvency margin far above the minimum requirement.

Sang Lee, its CEO, attributed the good results to the trust of customers, prudent financial management and stable interest rates, which had a positive impact on technical reserves and profits.

Manulife has exclusive bancassurance partnerships with some banks, and has embraced digital applications to make insurance more accessible, providing customers and consultants with safe, fast and convenient transaction tools.

It won a number of prestigious awards last year, including for ‘Insurance Company of the Year’ at the Asia Trusted Life Agents & Advisers Awards, ‘Digital Insurance Initiative of the Year - Vietnam’ at the Insurance Asia Awards and "Top 100 Best Workplaces to Work for in Vietnam 2022" from recruitment company Anphabe. — VNS