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Bao Viet Tokio Marine Insurance Co. Ltd Officially Changed Corporate Name and Brand Identity to Tokio Marine Insurance Vietnam

Diep Nguyen
BizLIVE -

Tokio Marine Insurance Vietnam will continuously improve service quality, diversify insurance products and provide effective risk management solutions to meet the diverse needs of clients.

Bao Viet Tokio Marine Insurance Co. Ltd Officially Changed Corporate Name and Brand Identity to Tokio Marine Insurance Vietnam
Tokio Marine Insurance Vietnam's Board of Directors
Today, Bao Viet Tokio Marine Insurance Co. Ltd officially changed name and brand identity to Tokio Marine Insurance Vietnam Co. Ltd. This strategic change is aimed at strengthening the brand position as the best Japan quality insurance service provider in Vietnam.
With determination to become a trusted partner of domestic and foreign clients, Tokio Marine Insurance Vietnam will continuously improve service quality, diversify insurance products and provide effective risk management solutions to meet the diverse needs of clients. Thereby, Tokio Marine Insurance Vietnam reaffirmed their commitments to accompany clients along the sustainable development journey in Vietnamese market.
Tokio Marine Insurance Vietnam Co. Ltd. , formerly Bao Viet Tokio Marine Insurance Co. Ltd. , was established in 1996 as the first foreign-invested insurance company in Vietnam. With diverse non-life insurance products and services, the company has been providing domestic and foreign customers with the safety and security against risks in business and life. During the past 24 years since its establishment, the company has served more than 2,000 customers. More than half of them are Japanese corporations which have been investing in Vietnam.
Tokio Marine Insurance Vietnam's strong financial capacity comes from two major capital contributors - Tokio Marine Asia - the Asia-Pacific regional representative of Tokio Marine Holdings which is the leading insurance corporation in Japan; and Bao Viet Holdings - the leading financial & insurance corporation in Vietnam. Established in 1879, Tokio Marine Holdings now has a global network with representative offices across 490 cities in 45 countries & territories, more than 33,830 employees and agents in +190 countries and territories. At the end of 2019 fiscal year,
Tokio Marine & Nichido was ranked by two big credit rating agencies in the world: A + Financial Strength Rating by Standards & Poor's (S&P) and A++ Financial Strength Rating by A.M.Best.
In the upcoming development journey, Tokio Marine Insurance Vietnam will continue standardizing internal operation in line with Tokio Marine Holdings’ standards and principles to bring the best satisfaction and experience of Japanese qualified services to clients. 
Also, applying useful IT solutions, Tokio Marine Insurance Vietnam will consolidate internal infrastructure to improve the efficiency of business processes as well as develop multi-platform utility distribution channels to boost positive customer experience. Besides, the company would leverage its corporate governance capacity in compliance with international practices by improving the efficiency of internal audit activities and corporate risk management. 
At the same time, the company culture with the world-wide philosophy “To Be A Good Company” is the important foundation that Tokio Marine Insurance Vietnam will continue promoting in order to bring positive values to its clients, employees and local community. With these strategic directions, in the upcoming time, Tokio Marine Insurance Vietnam will diversify insurance products and risk management solutions to meet clients’ increasing demands and expectations to provide clients with safety and security in business and life.
Recognizing the importance of conducting business activities in line with community responsibility, the company has been and will always continue making efforts to improve the life quality of local communities through practical Corporate Social Responsibility (CSR) projects to support vulnerable groups in society. One of the notable projects was “Helmets for Kids” with the delivery of good quality helmets to students living in difficult circumstances to improve traffic safety in the school environment. Another key CSR activity was a long-term mangrove planting project to contribute to natural environment protection in Vietnam.
Regarding this critical turning point, Mr. Hideaki Maeomote - General Director of Tokio Marine Insurance Vietnam shared: "Insurance is based on trust. But honestly speaking, insurance services have not been well recognized as a useful financial solution and a shield to help protect businesses and individuals against business and life risks widely in local community. We wish to contribute to the growth of Vietnam's insurance market as the trusted insurance provider chosen by Japanese, domestic and international clients. By providing safety products and services of Japan quality, Tokio Marine Insurance Vietnam will join a hand to make the insurance industry in Vietnam more trustworthy."
In the context of the global Covid-19 pandemic, enterprises have been increasingly concerned and aware of the importance of insurance and risk management services. Facing that situation, Tokio Marine Insurance Vietnam has been implementing various activities and solutions to support its clients, partners and employees to overcome challenges and minimize the pandemic effects. In addition to providing clients with risk management consulting services and business safety plans,
Tokio Marine Insurance Vietnam also ensured the safety of clients, partners and employees by delivering face masks and hand sanitizers to them. This quick response of Tokio Marine Insurance Vietnam has contributed positive values to the pandemic prevention among the community.
According to the General Statistics Office of Vietnam, the insurance premium revenue of the whole market in the first 6 months of 2020 increased by 11% over the same period last year (estimated to increase by 6% in the second quarter of 2020), meanwhile non-life insurance increased by 8%.
Tokio Marine Insurance Vietnam's business performance in the first 6 months of 2020 also achieved positive results. The insurance premium growth rate reached 11.4% which is higher than the average growth rate of the non-life insurance market. 
The positive signals of the insurance market and Vietnam’s better control of Covid-19 pandemic compared to other countries in the region will create favorable conditions for domestic and foreign enterprises to continue investing in Vietnam. Tokio Marine Insurance Vietnam Insurance Co. Ltd. is always ready to accompany domestic and foreign business community and individuals in the journey of sustainable development and positive value’s spread toward a better Vietnam society

DIEP NGUYEN