On September 29, 2022, Vietnam National Reinsurance Corporation (VINARE) and Swiss Reinsurance Company Ltd (Swiss Re) signed a Memorandum of Understanding (MOU) on a further cooperation in the upcoming time. Swiss Re is one of the world’s leading reinsurers and a strategic shareholder of VINARE.
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 Swiss Re were Mr Balasubramian Nagarajan, Head of Malaysia Branch & Retakaful, Swiss Re Asia and Ms Wendy Tan, Senior Client Manager in charge of the Vietnam market.
This MOU is the extension of the Strategic Cooperation Agreement between VINARE and Swiss Re and has been maintained continuously for the past four years.
The MOU will provide the ground for the two companies to cooperate in the public and non-public sector business. In the public sector, Swiss Re will support the business development of Products that will cover Agricultural, Public Assets, natural catastrophes, state-owned enterprises, and other public schemes, that will be offered to the Vietnamese market. Swiss Re will proactively ensure an appropriate level of technical support and product development assistance, which are instrumental in achieving the above objectives.
Swiss Re has been a strategic shareholder of VINARE since 2008 and is the lead reinsurer of the pilot agricultural insurance scheme under Decision 315 in the period 2011 – 2013. Swiss Re has since continued to support the current Agricultural insurance scheme.