Prudential’s newest long-term record investment

14:12 | 08/01/2016
Prudential Vietnam Assurance once again leads the pack of insurers in Vietnam, investing in the longest term-ever government bonds.

Last week, Prudential announced receiving the certificate granted by the Ministry of Finance (MoF) for a VND500 billion ($22.9 million) purchase of 30-year government bonds (G-bonds), which has been issued for the very first time on the country’s financial market.

The total investment for this type of bond is expected to reach VND6 trillion ($275.23 million), with VND500 billion ($22.9 million) issued in December 2015 and a further VND5.5 trillion ($252.33 million) expected in the first half of 2016.

Participating in the December issuance, “the list of purchasers of the bonds also include ACE Life Vietnam, Bao Viet Life, PVI Sun Life and AIA Vietnam,” head of fund raising at Vietnam State Treasury Tran Thi Hue told VIR.

Earlier on, Prudential invested in 20-year G-bonds upon the first release of the type in July 2015. The total investment was VND3.2  trillion ($146.79 million), taking up over 50 per cent of the available amount for life insurers at the time. This move of the company was later listed in the top 10 highlights of the Vietnamese insurance market in 2015.

“This investment in 30-year G-bonds, in addition to the previous one in 20-year G-bonds, reflects our continued strong commitment to the long-term development of Vietnam and active partnership with the Vietnamese government in contributing to the development of the country’s national infrastructure, as well as its economic and social growth,” said CEO of Prudential Vietnam Wilf Blackburn.

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By By Dong Nguyen

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