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Chubb Life Insurance Vietnam raises charter capital

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Chubb Life Insurance Vietnam raises charter capital

Chubb Life Insurance Vietnam Co. Ltd. increased its charter capital and received an adjustment license from Vietnam's Ministry of Finance.

The company said that it raised its charter capital by more than 79 billion dong to 1.244 trillion dong, according to a company release. The insurer added that its shareholder equity is now more than 1.888 trillion dong.

The increase in the company's charter capital will enable it optimize market potential, improve service quality and provide better financial solutions to customers, the release said.

In addition, Chubb Life Insurance Vietnam was granted an adjustment license by Vietnam's Ministry of Finance, enabling the insurer to provide health insurance products locally.

Chubb Life Insurance Vietnam is a unit of Chubb Ltd.

As of Oct. 16, US$1 was equivalent to 22,717.50 Vietnamese dong.