Prudential Vietnam announces Phuong Tien Minh as new CEO

11:23 | 09/06/2020
UK-backed life insurer Prudential Vietnam Assurance Private Ltd. today announced that Phuong Tien Minh has joined the company as its new CEO, effective from June 3.
prudential vietnam announces phuong tien minh as new ceo
Phuong Tien Minh, the new CEO of Prudential Vietnam

Minh takes over from Clive Baker and will report to Wilf Blackburn, regional CEO, Insurance Growth Markets at Prudential Corporation Asia.

In his new role, Minh will be responsible for driving Prudential Vietnam’s strategy to expand its footprint across the country and provide Vietnamese with greater access to its suite of insurance and investment solutions.

Under his leadership, Prudential will remain committed to helping Vietnamese people achieve their healthcare goals and financial aspirations, in line with its “We DO for a Wealthier and Healthier Vietnam” commitment.

Minh is no stranger to Prudential Vietnam, having held leadership roles at the company between 2016 and 2018. As chief distribution officer and chief marketing officer, he developed new marketing channels for the business, led efforts to transform and digitalise its agency distribution, and tapped into the fast-growing urban customer segment.

In his new role, Minh will be responsible for driving Prudential Vietnam’s strategy to expand its footprint across the country and provide Vietnamese with greater access to its suite of insurance and investment solutions.

Before taking up his current role in Prudential Vietnam, Minh was at HSBC, where he built the bank’s retail banking business as the first country head of Retail Banking and Wealth Management in Vietnam. He had also headed business development, product development, and customer acquisition efforts in various leadership roles for a decade at the bank, from 2005 to 2015.

“Prudential Vietnam is an integral contributor to our Asia franchise and plays an important role in leading the next wave of growth for Prudential. With his extensive knowledge and experience in the life business, commercial banking, retail banking, and wealth management, Minh is well-positioned to lead Prudential Vietnam to greater success,” said Wilf Blackburn.

“Under his leadership, I am confident that Prudential Vietnam will continue to play a crucial role in fulfilling our ambition to be the undisputed insurance leader in Asia,” he noted.

Phuong Tien Minh said, “I am very honoured to re-join Prudential Vietnam as its new CEO. We are living in extraordinary times as the COVID-19 pandemic has changed the way people live, think, and interact with each other. Having operated in Vietnam for more than 20 years, coupled with its suite of best-in-class offerings, advanced technology capabilities, and a strong purpose-led culture, Prudential Vietnam is well positioned to seize the opportunities to build an even more dynamic, modern, and fast-growing business.”

A subsidiary of Prudential Plc., a leading global financial group headquartered in the UK, Prudential Vietnam has been operating in Vietnam for over 20 years, focusing on expanding the life insurance market.

In Vietnam, the company has helped over 1.6 million Vietnamese people achieve their protection needs and wealth aspirations in life via over 200,000 financial consultants, an expansive network of over 360 offices, as well as a nationwide network of partnerships with eight reputable banks and 366 hospitals and clinics as of March 2020.

Prudential is also a pioneer in applying modern technology to simplify the process and enhance the customer experience as well as support the community on their healthcare journey.

Besides its core business, Prudential Vietnam continued to give back to its community. In 2012-2019, the company contributed VND191 billion ($8.3 million) through a wide range of community investment projects under the three pillars of Healthy Living, Education, and Safety.

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