On 23 April 2026, Vietnam National Reinsurance Corporation (VINARE) successfully held its 2026 Annual General Meeting of Shareholders (AGM), with the participation of representatives from major shareholder State Capital Investment Corporation (SCIC), strategic shareholder Swiss Re, founding shareholders including Bao Viet, Bao Minh, PJICO and BIC, along with other institutional and individual shareholders, representatives of independent auditor Deloitte, and members of VINARE’s Board of Directors, Board of Control, and Board of Management.

Despite continued global economic and geopolitical uncertainty throughout 2025, Vietnam’s economy maintained positive growth momentum. Supported by major shareholders, the strategic direction of the Board of Directors, and the collective efforts of management and employees, VINARE successfully exceeded its 2025 business plan targets.

Total revenue reached VND 3,870 billion, representing a year-on-year increase of 16.6% and achieving 107.7% of the annual plan. Investment income amounted to VND 460 billion, up 9.8% compared to 2024, while profit before tax reached VND 507.8 billion, marking growth of 9.1% year-on-year. These results underscore VINARE’s financial resilience, disciplined underwriting approach, and effective governance in an increasingly volatile market environment.

As Vietnam’s leading reinsurance company, VINARE continues to pursue sustainable and efficient growth while playing an important role in strengthening the domestic insurance market. As the national reinsurer, VINARE contributes to improving the market’s retention capacity, reducing foreign currency outflows through overseas premium transfers, and supporting the safe, stable, and internationally integrated development of Vietnam’s insurance sector.

Alongside business performance, VINARE remains strongly committed to enhancing corporate governance. The Corporation focuses on building a proactive, transparent, and highly effective governance framework through continuous improvement of governance policies, stronger Board oversight, and greater transparency and accountability across the organization. These efforts have strengthened the confidence of shareholders, partners, and the market, while earning VINARE recognition through several prestigious corporate governance awards, including Top 10 Best Corporate Governance Companies at the 2025 Listed Company Awards (VLCA), Top 5 “Rising Stars and Leaders” in the 2024 ASEAN Corporate Governance Scorecard (ACGS), and Top 5 “Board of the Year” at the 8th Annual Forum on Corporate Governance (AF8). These recognitions reaffirm VINARE’s commitment to governance excellence aligned with regional and international best practices.

Looking ahead to 2026, the global economic outlook remains uncertain, while Vietnam’s economy is expected to benefit from strong growth targets, stable macroeconomic policies, and accelerated public investment. At the same time, Vietnam’s insurance market is entering a new growth cycle with a stronger focus on service quality, customer value creation, and long-term profitability, although challenges such as catastrophe risks, soft market competition, and unhealthy pricing practices remain.

In response, VINARE remains committed to sustainable, safe, and efficient long-term growth, while ensuring balanced interests among shareholders, employees, and business partners. The Corporation also continues to target an international credit rating upgrade to “A-” when possible.

In reinsurance business, VINARE maintains strict underwriting disciplines, emphasizing prudent risk assessment and technical profitability rather than pursuing premium growth at all costs. In investment activities, the Corporation will continue improving portfolio quality based on the principles of Safety – Efficiency – Liquidity, while strengthening financial capacity to meet upcoming Risk-Based Capital requirements expected to take effect from 1 January 2028.

Based on this strategic direction, VINARE has set the following key targets for 2026:

• Total revenue: VND 4,266 billion, representing growth of 10.2% compared to 2025
• Pre-tax profit: VND 560 billion, up 10.3% year-on-year
• Combined ratio: not exceeding 98%
• Average ROE: minimum 10%
• Strengthening financial capacity to comply with Risk-Based Capital requirements
• Dividend payout ratio: 10% in cash and 5% in shares

The achievement of these targets reflects not only VINARE’s internal determination, but also the strategic support of SCIC as the major shareholder representing State capital. SCIC continues to guide portfolio companies toward safe, efficient, transparent, and sustainable development, while maintaining high expectations regarding growth, capital efficiency, and long-term competitiveness.

At the same time, the continued partnership of Swiss Re, together with Bao Viet, Bao Minh, PJICO, and BIC, remains a valuable source of support for VINARE in expanding underwriting cooperation, strengthening governance capabilities, and accessing international standards and expertise in reinsurance.

During the AGM, shareholders also approved the election of an additional member to the Board of Directors for the 2025–2030 term. With strong consensus and a shared commitment to leadership continuity, the AGM elected Mr. Pham Thanh Hai, full-time Chairman of the Board of Directors of PJICO, as a member of VINARE’s Board of Directors.

In his closing remarks, Chairman of the Board of Directors Mr. Nguyen Anh Tuan expressed sincere appreciation to all shareholders, particularly major shareholders who have maintained their long-term support and partnership with the Corporation. He emphasized that shareholder trust remains the most important foundation for VINARE to continue pursuing sustainable, safe, and efficient development. He also affirmed that close coordination among the Board of Directors, Board of Control, Board of Management, and all employees will remain a key driver in strengthening governance, enhancing competitiveness, and successfully delivering the Corporation’s 2026 business plan and long-term strategic objectives for the 2025–2030 term.