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|Hanwha Life VN has 28,000 financial consultants providing insurance services for over 200,000 clients|
|Hanwha Life Vietnam and Shinhan Bank Vietnam sign bancassurance deal|
|Hanwha Life Vietnam launches new comprehensive product package|
|Hanwha Life Vietnam increase its chartered capital to $103 million|
|Korea Life Vietnam renamed as Hanwha Life Vietnam|
The 100th customer service center was unveiled on August 17, 2017 in Duc Pho township, Duc Pho district, Quang Ngai province. Currently, Hanwha Life’s customer service system spans across North, Central, and South Vietnam.
Back Jong Kook, chairman cum general director of Hanwha Life Vietnam, believes that the larger network will provide local customers easier access to the advanced life insurance products and services provided by Hanwha Life. It will also strengthen the firm’s visibility and promote its business in the time to come.
Back also explained that expansion comes earlier than he previously expected thanks to the comprehensive preparation and good business performance since the beginning of the year.
“Hanwha Life Vietnam’s highest goal is to become one of the top service quality life insurance firms. We will not stop at 100 service centers and continue going ahead by expanding customer transactions and upgrading existing facilities,” Kook emphasised.
By the end of the second quarter of 2017, Hanwha Life gained VND301 billion ($13.2 million) in new policy premium revenue
With strong effort, Hanwha Life obtained a great business results. According to the latest financial report, by the end of the second quarter of 2017, the company gained VND301 billion ($13.2 million) in new policy premium revenue, increasing 59 per cent over the same period last year. The company has also 28,000 financial consultants serving over 200,000 clients.
Besides network expansion, Hanwha Life Vietnam has diversified its distribution system. Since the beginning of the year, Hanwha Life has partnered with two major Korean banks in Vietnam—Woori Bank and Shinhan Bank—to deliver bancassurance products.
2016 was the first profitable year for the company after eight years of operating in Vietnam, raking in VND12 billion ($528,000) in profit before taxes. Hanwha Life’s total assets as of December 31, 2016 were VND2.997 trillion ($131.9 million), a 32 per cent increase compared to 2015. These overwhelming achievements will build the foundations for Hanwha Life to grow even more strongly in 2017 and beyond.