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Saito updated Hue on Dai-ichi Life’s successful business operations in Vietnam for over four years. As one of the top four leading insurers in the market with a solid foundation and well-established reputation, Dai-ichi Life Vietnam currently serves 620,000 customers through a network of more than 15,000 agents and 400 employees at nearly 60 offices and general agencies nationwide.
Saito also mentioned the growth plan in the future to fulfill its vision as the best and most professional company in Vietnam, re-affirming the company’s long-term commitment to developing this underserved life insurance market.
“I’ve been tremendously impressed with the Vietnamese government’s friendliness, sincerity and commitment to developing the country as well as their obvious desire to do what is best for Vietnam and the Vietnamese people,” said Saito at the meeting.
“Vietnam, with its young population and rapid-grown economy is a very important market to Dai-ichi Life in Asia. Also, life insurance has an important role in society, which could provide welfare and support to people. As a strong and trustworthy company with more than 100 years of experience in Japan, Dai-ichi Life is committed to providing Vietnamese customers with the highest insurance and wealth management products and services with Japanese quality as well as sustainable value to customers,” he added.
Established in 1902, the Dai-ichi Life Insurance Company is one of the leading life insurance companies in Japan as well as in the world with the total asset of $388.4 billion, premium income of $39.8 billion by March 31, 2011). Dai-ichi Life has been developing its overseas life insurance business in Vietnam, India, Thailand, Australia and Taiwan.
As a member of Dai-ichi Life, Dai-ichi Life Insurance Company of Vietnam was established in January, 2007. This is the first foreign market that Dai-ichi Life expands its business through a 100 per cent owned subsidiary.
Just after one year of operation in Vietnam, in January 2008, Dai-ichi Life Vietnam was approved by the Ministry of Finance to increase its charter capital from $25 million to $72 million.