In 2024, Manulife Vietnam will continue to maintain business efficiency with after-tax profit reaching VND 3,334 billion, up 2% compared to 2023. Investment activities contributed an important part to this result, as profits from financial investment grew remarkably by 39% compared to 2023. Achievements in digitalization, cost management and business quality improvement also effectively contribute to profit growth.
Effective business operations have contributed to Manulife Vietnam's continued consolidation of financial strengths. By the end of 2024, the company's total assets increased by 15.5%, reaching VND 137,049 billion. The company maintains its leading position in terms of capital scale in the life-saving market with a charter capital of VND 22,220 billion.
Continuing to affirm its strong commitment to accompanying customers in the face of life incidents, in 2024, Manulife Vietnam paid VND 7,884 billion to customers' compensation and insurance claim payments. Nearly 500,000 insurance benefit payment applications have been processed, with an average processing time of 1.2 days.
Committing to transparency, constantly pioneering innovation to get better every day
With the criterion of taking customers as the center of every strategy, Manulife Vietnam has continuously launched solutions on products, services, technology... to strengthen trust, enhance customer experience, and at the same time promote the increasingly professional development of the market.
In 2024, the company will deploy an M-Pro process and an intelligent recording system to ensure customers receive full and transparent consultation, while upgrading the automatic switchboard system (IVR) and extending service time. A series of transaction offices nationwide have also been upgraded by the investment company, bringing a fresh experience to customers.
In addition, the Manulife Vietnam application was also launched in August 2024, making it easy for customers to make most transactions related to insurance contracts online. In response to the increasingly diverse health insurance and life insurance needs of customers, Manulife has also provided two new products including the death insurance product "An Tam Vui Song 2.0" and the health product " live Healthy Every Day" (version 2024).
In particular, in early 2025, the company deployed the M-PS survey system (Manulife Promoter System) to help record customer opinions anytime, anywhere, promptly resolving customer questions.
Manulife Group maintains impressive growth momentum
Manulife Group Global has also announced its 2024 business results with impressive growth in many important business indicators.
Specifically, the full-year core earnings reached 7.2 billion Can. USD, up 8% compared to 2023. indices such as Annual Insurance Expenditures (APE), New Business CSM (New Business CSM) and New Exploit Value (NBV) all achieved growth of over 30% compared to 2023.
In Asia, Manulife continues to maintain a strong growth momentum in 2024. core profits increased by 27% compared to 2023. The APE, New Business CSM and NBV indices achieved increases of 36%, 38% and 35% respectively compared to 2023 thanks to the growth of most Asian markets, led by Hong Kong.
A highlight of Manulife Group in 2024 is to promote the application of artificial intelligence in business operations due to the strong development and value that these models bring. The group said it has successfully implemented 27 AI application projects, and is currently developing 32 other AI projects. Thanks to efforts to improve customer experience through digital initiatives, Manulife's customer satisfaction index (rNPS) has increased by 4 points compared to 2023, while raising thestraight-through processing rate to 89%, far exceeding the set target.
