Prudential Vietnam announces business results for 2021, revenue growth of 15.2%
Sustainable growth, showing responsibility to customers
According to the financial statements for 2021, Prudential grew steadily despite the effects of social distancing during the year, with specific key financial indicators such as: Total revenue reached VND 39,152 billion, up 15, 2%; net revenue from insurance business reached VND 28,276 billion, up 14.4%.
The financial statements for 2021 also continue to show Prudential’s strong financial potential in business and investment activities with increased indexes compared to 2020: Total asset value reached VND 148,152 billion, an increase of 19.2 billion. %; total assets invested in the economy was 129,498 billion VND, up 15.4%.
In particular, in 2021, Prudential paid more than 8,610 billion VND of insurance benefits to customers, an increase of 37.6% compared to the previous year, accounting for about 26% of the total payment of the whole market, fulfilling its commitments to customers. customers and a solid financial support for more than 1.6 million families in Vietnam.
Last year, although the economy faced many difficulties due to the epidemic, all six PRUlink Funds of the Unit-linked insurance product line, typically PRU-Flexible investment, were under the management of the Company. Management of Eastspring Investment Fund, part of Prudential Group, has achieved impressive profitability. Net profit ratio of Funds after deducting fund management fee is as follows: PRUlink Vietnam Stock Fund is 40%; PRUlink Fund Growth is 28.5%; PRUlink Balance is 20.8%; PRUlink Sustainability is 13.3%; PRUlink Vietnam Bonds is 3.0%; PRUlink Bao Toan is 4.2%
The Universal Endowment Fund of the Universal Link product line including PRU-Active Life, PRU-Optimal Protection… also offers an effective investment rate of at least 5.0% in 2021 (after depreciation). minus fund management fee).
Take action for the health, financial prosperity of every family
Facing unforeseen difficulties of the pandemic, in 2021, Prudential has actively joined hands with customers and the community towards the goal of “No one is left behind”. Through a variety of support programs and practical insurance products, Prudential has helped solve health and financial problems in the community.
For example, Prudential’s program “Truly Connecting – Connecting Love” helps connect customers, employees, and consultants infected with Covid-19 with a team of online doctors; or the policy of extending the fee payment from 60 days to 120 days, applied in 2021 to share the financial burden with customers affected by the Covid-19 epidemic.
In addition to the estimated budget of 12 billion VND for activities to support the community to fight the epidemic, Prudential continues to dedicate itself to long-term projects, especially in the field of education, targeting children. . Prominent are the projects “Education on Smart Financial Management Cha-Ching” and “Safe School”. Despite the obstacles caused by the impact of Covid-19, the program still maintains teaching and training activities on an online platform, outside the school premises.
Prudential also initiated a national research project on “Readiness for independent life in old age” with the Institute of Labor and Social Sciences (under the Ministry of Labour, Invalids and Social Affairs) and Medical Research Institute – Sociology. The goal is to inspire and call people between the ages of 30-44 to plan and prepare now, in all aspects: financial, health, spiritual and social cohesion towards a life. live freely and independently in old age.
At the same time, Prudential also quickly adapted, developing many digitalization initiatives to improve processes, ensure business and serve customers continuously during the epidemic season, for example, the automatic compensation process (Auto) -Claim) or the automatic appraisal process (Auto-UW) has also been accelerated and achieved impressive results. In which, the rate of automatic compensation decision (Auto-Claim) is up to 80.1%, the rate of automatic appraisal decision (Auto-UW) reaches 81.2%.
Prudential is also constantly upgrading and diversifying digital insurance products to meet customers’ needs with reasonable fees and easy access through popular online platforms and e-commerce sites. variables like PRU-Happy to live, PRU-Tropical.
Contributing to the above results, Prudential is proud of having a diverse and harmonious staff. 2021 is also the 4th year, Prudential is recognized as “Asia’s Best Place to Work” by HR Asia; and is the “Ideal Working Environment” first recognized by Great Place to Work in February 2022.
Mr. Phuong Tien Minh – General Director of Prudential Vietnam said: “The pandemic has shown us that the development of each business and each person must be associated with the stability and prosperity of the community. , our activities are tied to a commitment to sustainable development, not only in the business sector but also in the activities that support customers, employees, partners, and local communities.
The year 2022 opens with positive signals with the recovery of the economy and the return of many service industries. Our business continues to be customer-centric. We will focus on diversifying products, improving the quality of distribution channels, and developing practical digital applications that bring the most convenient and satisfying experiences to customers.”
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