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PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD

Business ID 0301840443

84-28 / 39101660 - 39100999

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD

Business ID 0301840443

84-28 / 39101660 - 39100999

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD

Summary

Name:

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD

Business ID (TIN):

0301840443

Date of Registration:

08 Sep 2011

Registered Office:

Ministry of Finance

Address:

Sai Gon Trade Center, 25th Floor, No. 37 Ton Duc Thang Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Phone:

84-28 / 39101660 - 39100999

Fax:

(84-28) 391008999

Financial Statement:

2020, 2021, 2022, 2023, 2024

Prudential Vietnam Assurance Private Ltd: A Leading Life Insurance Provider in Vietnam

Prudential Vietnam Assurance Private Ltd (PVA) is a prominent life insurance company operating in Vietnam, with a strong presence and a robust financial performance. Established on September 8, 2011, the company has grown significantly over the past 13 years, becoming a key player in the Vietnamese insurance market. Headquartered at the Sai Gon Trade Center in Ho Chi Minh City, PVA also has branches in Hanoi, Binh Duong, and a representative office in Kien Giang, ensuring a wide reach across the country. The company’s Tax Identification Number (TIN) is 0301840443, which is used for all tax-related transactions and compliance in Vietnam.

Financial Performance and Growth

As of December 31, 2023, Prudential Vietnam boasts total assets of USD 7.26 billion, reflecting a year-on-year growth of 9.23%. The company’s owner’s equity stands at USD 917.63 million, marking a 15.31% increase from the previous year. Despite a challenging economic environment, PVA generated USD 1.09 billion in sales for the fiscal year 2023, although this represents a 12.97% decline compared to 2022. The company’s profit for the year was USD 127.93 million, a slight decrease of 14.38% from the previous year.

The company’s financial performance over the past three years shows a consistent upward trend in total assets and owner’s equity, with total assets growing from USD 6.09 billion in 2021 to USD 7.26 billion in 2023. Owner’s equity also saw a significant increase, rising from USD 646.37 million in 2021 to USD 917.63 million in 2023. However, sales and profits have experienced fluctuations, with sales peaking in 2022 at USD 1.25 billion before declining in 2023.

Leadership and Ownership

Prudential Vietnam is led by Chairwoman Ms. Lilian Lup-Yin Ng and General Director Mr. Clive Darren Baker, a British national. The company is a wholly-owned subsidiary of Prudential Corporation Holdings Limited, based in the United Kingdom. This strong international backing has enabled PVA to leverage global expertise and resources while tailoring its products and services to the Vietnamese market.

Business Activities and Market Position

PVA’s core business activities revolve around providing life insurance products and services in Vietnam. The company offers a range of protection products, including critical illness coverage, health care, financial support, and accident insurance. With a focus on life insurance, PVA has established itself as a trusted provider in the Vietnamese market, catering to the growing demand for financial security and health protection.

The company’s charter capital is USD 169.46 million, with a paid-up capital of USD 262.84 million as of December 31, 2023. This strong capital base underscores PVA’s financial stability and its ability to meet its obligations to policyholders.

Employee Base and Operational Reach

Prudential Vietnam employs 1,395 people, reflecting its commitment to creating jobs and contributing to the local economy. The company’s extensive network, including its head office in Ho Chi Minh City and branches in Hanoi and Binh Duong, ensures that it can effectively serve customers across the country. Additionally, its representative office in Kien Giang extends its reach to the southern region of Vietnam.

Vanguard Business Information LLC

The report on Prudential Vietnam was provided by Vanguard Business Information LLC, a U.S.-based company specializing in business intelligence and risk management. Vanguard Business Information LLC is known for its expertise in providing detailed company profiles, financial analysis, and risk assessment services. Key keywords associated with Vanguard’s risk management services include compliance monitoring, financial risk assessment, credit risk analysis, and market intelligence. These services are crucial for businesses like Prudential Vietnam to navigate complex regulatory environments and manage financial risks effectively.

Conclusion

Prudential Vietnam Assurance Private Ltd has solidified its position as a leading life insurance provider in Vietnam, backed by strong financial performance, international expertise, and a comprehensive range of insurance products. Despite some challenges in sales and profit growth in 2023, the company’s overall financial health remains robust, with significant growth in assets and equity. Under the leadership of Ms. Lilian Lup-Yin Ng and Mr. Clive Darren Baker, PVA is well-positioned to continue its growth trajectory and meet the evolving needs of its customers in Vietnam.

For more information, visit Prudential Vietnam’s official website at www.prudential.com.vn

Legal Profile

English Name:

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD

Vietnamese Name:

CONG TY TNHH BAO HIEM NHAN THO PRUDENTIAL VIET NAM

Short Name:

PRUDENTIAL VIETNAM

Business ID (TIN):

0301840443

Date of Registration:

08 Sep 2011

Registered Office:

Ministry of Finance

Ownership Status:

FDI

Contacts

Key Decision Makers:

+ LILIAN L.N

+ CLIVE D.B

Address:

Sai Gon Trade Center, 25th Floor, No. 37 Ton Duc Thang Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Phone:

84-28 / 39101660 - 39100999

Fax:

(84-28) 391008999

Branch:

Me Tri Ward, South Tu Liem District, Ha Noi City, Vietnam

Representative office:

ACB Building, No. 451, Nguyen Trung Truc Street, Vinh Lac Ward, Rach Gia City, Kien Giang Province, Vietnam

Branch:

Navi Tower Binh Duong Building, No. 91, Hoang Van Thu Street, Chanh Nghia Ward, Thu Dau Mot City, Binh Duong Province, Vietnam

Branch:

ACB Binh Dinh Building, No. 173-175, Le Hong Phong Street, Le Hong Phong Ward, Quy Nhon City, Binh Dinh Province, Vietnam

Branch:

ACB Building, No. 152, Tran Hung Dao Street, Phu Thuy Ward, Phan Thiet City, Binh Thuan Province, Vietnam

Branch:

No. 139, Nam Ky Khoi Nghia Street, Ward 4, My Tho City, Tien Giang Province, Vietnam

Branch:

No. 14, Ly Tu Trong Street, Hai Chau District, Da Nang City, Vietnam

Branch:

Dong A Trade Center, No. 668, Phan Dinh Phung Street, Dong Quan Ward, Thai Nguyen City, Thai Nguyen Province, Vietnam

Branch:

No. 179, Chu Van Thinh Street, Group No. 2, To Hieu Ward, Son La City, Son La Province, Vietnam

Representative office:

No. 102A, Le Hong Phong Street, Ward 4, Vung Tau City, Ba Ria - Vung Tau Province, Vietnam

Representative office:

No. 38-40, Thong Nhat Street, Van Thanh Ward, Nha Trang City, Khanh Hoa Province, Vietnam

Representative office:

25/4 Street, Bach Dang Ward, Ha Long City, Quang Ninh Province, Vietnam

Representative office:

No. 01, Tran Quoc Toan Street, Ward 10, Da Lat City, Lam Dong Province, Vietnam

Representative office:

No. 253, Tran Phu Street, Ba Dinh Ward, Thanh Hoa City, Thanh Hoa Province, Vietnam

Branch:

No. 02-04, Ben Can Giuoc Street, Ward 11, District 8, Ho Chi Minh City, Vietnam

Representative office:

Quang trung Ward, Vinh City, Nghe An Province, Vietnam

Branch:

Vietel Thua Thien Hue Building, No. 11, Ly Thuong Kiet Street, Vinh Ninh Ward, Hue City, Thua Thien Hue Province, Vietnam

Branch:

No. 95-97-99, Vo Van Tan Street, Tan An Ward, Ninh Kieu District, Can Tho City, Vietnam

Representative office:

No. 27, Nguyen Tat Thanh Street, Tan An Ward, Buon Ma Thuot City, Dak Lak Province, Vietnam

Representative office:

No. 3, An Duong Vuong Street, Ward 7, Ca Mau City, Ca Mau Province, 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

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Financial Performance

Assets	-55.13%
Owner’s Equity	21.94%
Working Capital	20.84%
Net Worth	86.68%
Sales	-12.92%
Operating income	-64.99%
EBIT	-54.77%
Gross Profit Margin	4.96%
Debt to EBITDA	-98.33%

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Specific Questions About PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD

When did PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD start operating?

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD was started in 08 Sep 2011

What industry does PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD operate in?

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD is operating in "Life insurance" industry

How can I contact PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD?

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD phone numbers is 84-28 / 39101660 - 39100999

What adverse news is there about PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD?

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD’s has no negative news

What is stock symbol of PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD?

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD is not listed company

Where is the location of PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD?

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD is located at Sai Gon Trade Center, 25th Floor, No. 37 Ton Duc Thang Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

What is PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD’s business registration?

PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD business registration is 0301840443

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PRUDENTIAL VIETNAM ASSURANCE PRIVATE LTD