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“Hanwha Life Vietnam will continue to focus on its five-year plan (2012-2016) which is to become the market leader in terms of policy persistency and to achieve a market share of 10 per cent in terms of new business,” said Back Jong Kook, general director of Hanwha Life Vietnam, at the re-branding launch function in Ho Chi Minh City.
The renaming, which applies to Korea Life companies throughout the world, will not cause any big change in their business strategy and operations in this market, according to Hanwha Life Vietnam.
“The re-branding does not lead to any change in benefits offered and liabilities hold by our company for the policy holders, agents and partners as well as personnel at our company. Furtheremore, to the government and the State of Vietnam, Hanwha Life Vietnam will continue operating as a professional and highly complying life insurer,” said Back Jong Kook.
As the first overseas affiliate of Hanwha Life Insurance, Hanwha Life Vietnam has met high expectations of Hanwha Group and serves as a good model for the group to firmly expand its presence in Southeast Asia by setting up its subsidiaries in Indonesia and other markets, according to Hanwha Life Insurance.
In nearly four years of operation in Vietnam, Hanwha Life Vietnam has attracted and developed 150 employees and more than 9,000 financial consultants working at more than 25 offices across the nation. The company currently has more than 23,000 policy holders and their families.
In addition to the name change, Hanwha Life Vietnam has unveiled its new slogan - “Financial Solutions for the Future”.
The name Hanwha Life Insurance is also being applied to Korea Life representative offices in China, the United Kingdom and the US, to establish a consistent Hanwha brand all over the globe.