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Historical Milestones

1994 – 1995  Vietnam National Reinsurance Corporation (VINARE) was established in 1994 according to Decision 920TC/QD/TCCB dated 27 September 1994 by the Ministry of Finance, operating under Business License no. 100104 dated 6 October 1994. The company officially started operation from 1 January 1995.

1999  With the initial achievements in its business operation, in 1999 Vietnam National Reinsurance Company was honoured with the Third Class Labour Order by the President of State.

2001  In October 2001, VINARE’s head office building at 141 Le Duan Street, Hoan Kiem, Hanoi, was inaugurated and put into use.

2004  Following Decision 3089/QD-BTC dated 10 October 2003 by the Ministry of Finance on its equitisation, the Company was successfully equitised in 2004. On 15 November 2004, the Ministry of Finance officially granted License of Establishment and Operation No. 28GP/KDBH to Vietnam National Reinsurance Corporation (VINARE). The Corporation officially started operation on 01 January 2005.

The charter capital at this time was registered at VND500 billion, in which the paid-up amount was VND343 billion. The shareholder structure was as follows: State capital: 56,5%; Strategic shareholders: 40,5%; Individual shareholders: 3%.

Ten years after its establishment, VINARE was awarded with the Second Class Labour Order by the President of State for its contribution to the development of the Vietnamese insurance industry.

2006  Following the Resolution of the General Meeting of Shareholders on 27 December 2005 on listing VINARE share on the stock market, VINARE has registered for its share to be listed on Hanoi Stock Trading Center.

VINARE has officially been listed on Hanoi Stock Trading Centre since 13 March 2006.

2007 – 2008  Following the Resolution of the General Meeting of Shareholders 2007 on increasing the capital amount, on 24 September 2007, VINARE completed the First Phase of Share Issuance. The paid-up capital as at 31 December 2007 was VND 504,138,300,000. The Second Phase of Share Issuance (offered to strategic shareholders) was completed by 30 January 2008. VINARE has selected Swiss Reinsurance – the leading reinsurer in the world – to be the sole foreign strategic partner. The total amount of paid-up capital after two phases of issuance was VND 672,184,400,000 with the following structure: State capital 40.36%; Local strategic shareholders 29.09%; Foreign strategic shareholder (Swiss Re) 25%; Other shareholders 5.55%.

All the new issued shares have been officially transacted on Hanoi Stock Trading Centre since 13 March 2008.

2009  In August 2009, Vietnam National Reinsurance Corporation was awarded with the First Class Labour Order for its outstanding achievements and significant contributions to the development of the Vietnamese insurance industry.

2011  Following the Resolution of the General Meeting of Shareholders 2011 on the issuance of bonus shares for existing shareholders to increase the capital, the total amount of paid-up capital after this issuance was VND1,008,276,580,000. All the bonus shares issued have been listed since 20 October 2011.

2013  On 1st November 2013, international credit rating agency A.M. Best has rated Vietnam National Reinsurance Corporation with Financial strength rating of B++ (Good) and Issuer’s credit rating of “bbb”, outlook is stable.

2014  Corporation has completed the bonus share issurance to increase charter capital to VND1,310 billion. On the 20th anniversary of establishment, Corporation was honoured to receive the Third Class Independence Order of the State. Corporation has also maintained financial strength rating of B++ and issuer credit rating of “bbb”.  

2015 – 2016 Development Strategy for 2015 – 2020 of the Corporation was approved by the General Meeting of Shareholders. Corporation has also maintained Financial Strength rating of B++ and Issuer Credit rating upgraded to “bbb+”.

2017  Corporation was honoured among Top 30 Transparent Enterprises of Hanoi Stock Exchange in 2017 for the fourth consecutive time. VINARE received the “Vietnam Excellent Brand 2017” award granted by Vietnam Economic Times (annually since 2003). Global Brands Magazine, headquartered in the United Kingdom, selected VINARE as the “Best Reinsurance Brand” in Vietnam 2017. 

2018  VINARE was honoured among Top 500 most profitable companies 2018; ranked 5/15 most profitable insurance companies in the List Profit 500 by Vietnam Report. Maintained Financial Strength Rating of “B++” with positive evaluation. Awarded with the “Vietnam Excellent Brand 2018” by Vietnam Economic Times

2019  Honoured with the Government’s Emulation Flag for outstanding achievements in business activities.

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