The Ministry of Finance recently approved an increase in the charter capital to VND18,909bn ($775m) of Sun Life Vietnam Insurance Company, part of the Canadian financial services group.
The increase reflects not only an accounting adjustment but also the long-term commitment of the Canadian financial giant to the Vietnamese market.
Company representatives said the new capital will be directed toward technology infrastructure, process digitalisation and the diversification of distribution channels. As the insurance industry undergoes significant transformation following periods of fluctuating market confidence, enhancing service capabilities and optimising product portfolios are key steps for retaining customers.