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FWD VIETNAM LIFE INSURANCE COMPANY LIMITED

Active

Business ID 0102631572

84-28 / 6256 3688

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED

Active

Business ID 0102631572

84-28 / 6256 3688

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED

Active

Summary

Name:

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED

Business ID (TIN):

0102631572

Date of Registration:

23 Nov 2007

Registered Office:

The Ministry of Finance

Address:

Floor 11th, Diamond Plaza, No. 34, Le Duan Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Phone:

84-28 / 6256 3688

Financial Statement:

2020, 2021, 2022, 2023, 2024

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED (Vietnamese: CÔNG TY TNHH BẢO HIỂM NHÂN THỌ FWD VIỆT NAM) is a wholly foreign-owned life insurer operating in Vietnam since November 23, 2007. The company is licensed under Business ID 47GP/KDBH and holds Tax Identification Number 0102631572. Its head office is located on the 11th Floor of Diamond Plaza, No. 34 Le Duan Street, Ben Nghe Ward, District 1, Ho Chi Minh City, with additional branches in Hanoi and Da Nang. The firm is entirely owned by FWD Life Insurance Company (Bermuda) Limited, headquartered in Hong Kong.

Chaired by Mr. David Tai Wai Wong, with Mr. Huynh Huu Khang as General Director, the company is structured as a limited liability entity and employed around 339 people as of the latest reported period.

As of fiscal year-end 2023, FWD VIETNAM reported total assets of USD 803.65 million, an increase of 7.54% year-over-year. This consistent growth in asset size over three years illustrates the company’s stable financial base and prudent capital management. The company’s equity reached USD 536.32 million, a 12.34% increase from the previous year, signaling stronger capitalization and higher retained earnings.

However, the most notable financial movement in 2023 is the sharp turnaround in profitability. After suffering consecutive losses of USD -43.6 million in 2021 and USD -69.18 million in 2022, the company reversed its trajectory by posting a net profit of USD 36.09 million in 2023. This represents a remarkable 152.16% year-over-year growth in profit, indicating either cost restructuring, improved underwriting, or a favorable investment environment.

Despite this positive development, total sales declined by 10.54% in 2023, from USD 246.35 million in 2022 to USD 220.39 million. This contraction is a cause for caution. It may reflect increased market competition, a cooling customer base, or regulatory limitations in acquiring new policies. A decline in topline revenue amidst profit recovery could also point to short-term gains that may not be sustainable without consistent growth in policy issuance or premium income.

Another strength lies in the company’s liquidity: working capital amounted to USD 233.84 million, providing a solid financial cushion for operational obligations and claim payouts. The paid-up capital, at USD 784.77 million, even exceeds the reported charter capital of USD 623.4 million, thereby reinforcing investor confidence in the parent company's long-term commitment.

From a risk management standpoint, FWD VIETNAM LIFE INSURANCE COMPANY LIMITED appears to have weathered previous financial difficulties and currently enjoys strong solvency metrics. However, partners and stakeholders should continue to monitor its revenue generation capacity closely. The life insurance industry is sensitive to shifts in consumer behavior, policy reforms, and capital market volatility—all of which can impact future performance.

Businesses considering partnerships, collaborations, or extended engagements with FWD VIETNAM are advised to conduct thorough due diligence beyond surface-level profitability. It is essential to assess not only financial statements but also the legal standing, shareholder stability, and market conduct history of the company.

For organizations looking to deepen their understanding of FWD VIETNAM’s business standing, litigation history, and financial risk exposure, VANGUARD BUSINESS INFORMATION LLC (VBI) offers comprehensive services in business verification, risk intelligence, and litigation search. VBI’s suite of services enables clients to make well-informed decisions grounded in factual, verifiable data.

Legal Profile

English Name:

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED

Vietnamese Name:

CONG TY TNHH BAO HIEM NHAN THO FWD VIETNAM

Short Name:

FWD and FWD VIETNAM

Business ID (TIN):

0102631572

Date of Registration:

23 Nov 2007

Registered Office:

The Ministry of Finance

Ownership Status:

FDI

Operation Status:

Active

Contacts

Key Decision Makers:

+ DAVID T.W.W

+ HUYNH H.K

+ LAU S.L

+ DINH T.Q.G

Address:

Floor 11th, Diamond Plaza, No. 34, Le Duan Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Phone:

84-28 / 6256 3688

Branch:

VCCI Tower, No. 9, Dao Duy Anh Street, Phuong Mai Ward, Dong Da District, Ha Noi City, Vietnam

Representative office:

F.Home Building, No. 16, Ly Thuong Kiet Street, Hai Chau District, Da Nang City, Vietnam

Business Sector

Key business lines:

VSIC:

6511 Life insurance

NACE:

65.11 Life insurance

NAICS:

524113 Direct Life Insurance Carriers

Industry Sales Growth

CAGR (2019 - 2023)

15.19%

YoY (2023)

-12.41%

Companies by industry

Company distribution and propportions

438

0.0151%

Key Industry Players

Top 10 companies in life insurance industry

aia (vietnam) life insurance company limited prudential vietnam assurance private ltd cathay life insurance vietnam co., ltd. chubb life insurance vietnam company limited hanwha life insurance company limited (vietnam) life insurance generali viet nam limited company manulife (vietnam) company limited fwd vietnam life insurance company limited mb ageas life insurance company limited sun life vietnam insurance company limited

Payment History

Purchase the report to access company details.

Financial Performance

Assets	21.28%
Owner’s Equity	74.37%
Working Capital	-86.22%
Net Worth	-29.13%
Sales	-15.06%
Operating income	39.76%
EBIT	13.73%
Gross Profit Margin	8.44%
Debt to EBITDA	73.35%

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Negative Payment Records

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Opinion from Analysts

Specific Questions About FWD VIETNAM LIFE INSURANCE COMPANY LIMITED

When did FWD VIETNAM LIFE INSURANCE COMPANY LIMITED start operating?

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED was started in 23 Nov 2007

What industry does FWD VIETNAM LIFE INSURANCE COMPANY LIMITED operate in?

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED is operating in "Life insurance" industry

How can I contact FWD VIETNAM LIFE INSURANCE COMPANY LIMITED?

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED phone numbers is 84-28 / 6256 3688

What adverse news is there about FWD VIETNAM LIFE INSURANCE COMPANY LIMITED?

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED’s has 1 bad news

What is stock symbol of FWD VIETNAM LIFE INSURANCE COMPANY LIMITED?

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED is not listed company

Where is the location of FWD VIETNAM LIFE INSURANCE COMPANY LIMITED?

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED is located at Floor 11th, Diamond Plaza, No. 34, Le Duan Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

What is FWD VIETNAM LIFE INSURANCE COMPANY LIMITED’s business registration?

FWD VIETNAM LIFE INSURANCE COMPANY LIMITED business registration is 0102631572

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