How was the Financial Situation of Prudential Vietnam in 2011, its problems in 2011 and challenges in 2012 Group 5
After the world economic crisis in recent years, tight monetary policy in 2011 has helped Vietnam to stop inflation but caused aggregate demand to weaken. The economy fell into stagnation characterized as inventory increases, the growth rate of industrial production slow and some businesses closed are on the rise. According to the Ministry of Planning and Investment, over 50,000 businesses have gone into bankruptcy in early 2011 to the end of quarter 1/2012. Large losses in Vinalines, Vinashin, EVN, Vietnam Cement Corporation VICEM, Song Da Corporation, TKV ... somehow make it easier for the Vietnamese economy sinking into stagnation condition than ever before. Global economic slowdown led to foreign investment flows into Vietnam show signs of decline. Attract foreign investment from the beginning of 2012 to 04/20/2012 only 68.5% compared to the same period last year, which is down 0.3% compared to the same period last year. Trinh Thanh Hoan, Director of Insurance Management and Supervision Department of Finance, commented that: the financial crisis affecting the insurance industry in Vietnam, but not heavy. Vietnam's insurance industry is one of the few lucky industries has overcome the crisis. Revenue growth rate of the insurance industry first 6 months of 2012 has reached a relative situation, though not as high as in 2011. Original insurance exploitation activities increased by 11% compared to the same period in 2011, of which 13.5% non-life sector, life insurance increased by 8.4%. In this context, the Prudential - with revenue of VND 2,182 billion, accounting for 39.69% of the market array of life insurance market in Vietnam is facing great opportunities to promote their competitiveness The study of the financial situation in 2011 by Prudential in conjunction with specifying the challenges they are facing in 2012 through which creating a premise to promote the Vietnamese insurance market in general and the Prudential Vietnam in particular to develop at a stable and healthy way is the reason why this topic was chosen. Title: “How was the financial situation of Prudential Vietnam in 2011, its problems in 2011 and its challenges in 2012” Object of this project is to study the financial situation in 2011 of Prudential Viet Nam in which the writer focused on the analysis of sales along with the challenges that they are facing in 2012, which is the main factor determining the competitive position of the company The range of research topics:
In term of spatial: The insurance company in Vietnam, especially Prudential In term of time: Empirical research in the period 2011-2012
Research objectives of the project are presented in three main aspects, namely: Develop practical scientific arguments about the challenges that Prudential are facing in 2012 as an important strategy in business development issues of Prudential Analysis of the financial situation of Prudential Vietnam in the 12-month period of 2011 The layout of the contents of the subject consists of three parts: Chapter 1: Historical development and organizational structure of Prudential Vietnam. Chapter 2: How Prudential Vietnam did their business in 2011. Chapter 3: Financial Situation of Prudential Vietnam in 2011 compared to 2010, its problems in 2011 and its challenges in 2012.
In term of finishing this project, because of limitation in knowledge about finance and insurance field and the lack of information that we can find both on The Internet and directly from Prudential Vietnam, our report may be confined.
We would like to show our gratitude to Dr. Gitte Top, who has specially enthusiasm in guiding our group during the process of doing and finalizing this project. We wish you be always happy in your life.
A. The method used in general is the research “onion”
* Definition :
In order to...
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