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MONTHLY REPORT April, 2010

MONTHLY REPORT April, 2010. Planning Division David Liu 7 May. 2010. Market News. There world’s biggest insurance companies entered into Vietnam market:. Three companies’ main channel should be bancassurance. The competition of future market will get harder. Market News.

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MONTHLY REPORT April, 2010

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  1. MONTHLY REPORT April, 2010 Planning Division David Liu 7 May. 2010

  2. Market News There world’s biggest insurance companies entered into Vietnam market: • Three companies’ main channel should be bancassurance. • The competition of future market will get harder.

  3. Market News Some Insurance Companies increased their own chartered capital in 2010 Note: Based on laws, the minimum capital of life insurance company should be 600B VND( about 38M USD).

  4. Market News 2010 capital increasing plan of insurance companies * : Expected to approve to MOF in quarter II/2010  All companies are consistent with law( except Prevoir) ,the main reason of increasing capital is to continue to develop their business.

  5. Project this Month • efficiency bonus • Analysis of promotion product • bancassuarance product • Planning project next month

  6. EFFICIENCY BONUS Company bonus • Year-end Bonus  grant on January of each year • Retention plan policy 8% of the base salary each month  grant after 5 year service when you retire or leave • Efficiency Bonus  grant on April of each year from 2011

  7. EFFICIENCY BONUS Intention • Reward excellent staffs • Encourage employee to contribute more and longer • “Individual performance bonus linked with company's operating results”

  8. EFFICIENCY BONUS Eligibility • On the service 2. As the below table and other position recognized by company Note: Collectors and Branch Development Officer will be applied by other regulation.

  9. EFFICIENCY BONUS Calculation Granting month of salary Efficiency Bonus 2010 Average monthly salary =  ◎BOD have the final decision to adjust bonus

  10. Calculation Granting month of salary = Performance Weight (W) Annual Operating Index (Y) 0.7  

  11. EFFICIENCY BONUS Calculation • Annual Operating Index (Y): Attained Rate of PFYP of whole company of 2010 From 2009/13 wkm to 2010/12 wkm Performance Weight (W): According to the ranking of staff 2010 performance rating

  12. EFFICIENCY BONUS Example David ranked in Top 30% Attainted rate of PFYP of 2010:100%. Granting month of salary: 0.7 100% 1.45 = 1.015 (month)  

  13. Project this Month • efficiency bonus • Analysis of promotion product • bancassuarance product • Planning project next month

  14. Promotion-A03 Unit: million VND HCM-1 sales the most A03. HCM-2、HN-1、HN-2 FP per policy is better.

  15. Promotion-A03 Unit: million VND Week of working month

  16. Promotion-A03 • Promotion Period: 5th working month • Mode: Original Performance FYP rate × 2

  17. Exciting Summer -C05、C06、C07 *Status: Q = Qualifed Policy, T = Total Policy We still have 45% contracts could be demanded to increase it’s FP to our target FP.

  18. Exciting Summer -C05、C06、C07 C05 & C06 (FP standard：3.5 M) 51% policies FP fall in 2M~3.5M. 57% policies mode are not annual payment. • Keep introducing marketing activities for increasing FP or suggest customer changing payment mode.

  19. Exciting Summer -C05、C06、C07 C07 (FP standard：5 M) 48% policies FP fall in 3M~5M. Keep introducing marketing activities for increasing FP

  20. Project this Month • efficiency bonus • Analysis of promotion product • bancassuarance product • Planning project next month

  21. Bancassurance Chanel Market share of bancassurance in Taiwan Development in other countries Source: Taiwan insurancenstitute & LIMRA • In Vietnam there are 6 insurance companies having bank partner to develop bancassurance. • Market share of bancassurance is less than 2%. • There are many opportunities to develop bancassurance.

  22. Loan Insurance Target:Housing borrower Offer protection to housing borrowers (*)DSA: Decreasing sum assured Process: Expected to be approved by MOF in June.

  23. Time deposit Insurance Target:Bank Offer bank tool for attracting time depositor to save money Process: In designing and pricing.

  24. Project this Month • efficiency bonus • Analysis of promotion product • bancassuarance product • Planning project next month

  25. Planning Project Next Month • New Product • Hai Phong setup preparation • Review Agent System • Review product Promotion and marketing activity

  26. Thank you!! Planning Division David Liu

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