On June 13th 2022 Vietnam National Reinsurance Corporation (VINARE) and Thai Reinsurance Public Company Ltd (Thai Re) signed a Memorandum of Understanding (MOU) on developing new products for Vietnam market. The signing of the MOU will open a new chapter in cooperation between two national reinsurers.
Attending the ceremony on VINARE’s side were Mr Nguyen Anh Tuan, VINARE’s Chairman of the Board, Mr Mai Xuan Dzung – Chief Executive Officer, Mr Nguyen Manh Linh – Deputy Chief Executive Officer, together with Marketing and Underwriting managers.
Representing Thai Re were Mr Oran Vongsuraphichet, Thai Re General Director, Ms Pojaman Fuangaromya – Thai Re Deputy General Director, and Ms Ornsuee Kunanansak – Deputy General Director in charge of product development.
The MOU will provide the ground for the two companies to cooperate on developing new products for Vietnam insurance market, especially focusing on retail insurance products such as health, accident, motor vehicles, etc., while exploring new distribution channels. In addition, Thai Re and VINARE will also cooperate in other services like training.
Also in the ceremony, Deputy CEO Nguyen Manh Linh signed the cooperation agreement between VINARE and EMCS under the witness of Mr Nguyen Anh Tuan and Ms Pojaman. EMCS is a subsidiary of Thai Re, operating in the field of providing insurance ancillary services. In lieu of the main scope of providing online auto claims management services, EMCS also includes Thai Re Actuarial Consulting, Thai Re Services and Thai Re Innovation. Within the framework of the MOU, VINARE and EMCS have agreed to cooperate in developing insurance ancillary services for the Vietnamese market, including the mentioned services.
At the end of the ceremony, Chairman of the Board Nguyen Anh Tuan on behalf of VINARE gave a gift to Thai Re as a memento.
Thai Re is the national reinsurance company of Thailand, a member of the Association of Asian Reinsurers as well as the Association of ASEAN Reinsurers.