In 2012, Vietnam National Reinsurance Corporation (VINARE) has made every effort to achieve business targets assigned by the Board of Management excellently.

In terms of reinsurance business: in 2012, Gross written premium (excluding pilot agriculture insurance business) was VND 1,608 billion, which outperformed the targets and increased by 13.3% in comparison with 2011. Net written premium was VND 646 billion, increasing by 32.9% in comparison with previous year. Net underwriting profit was above VND 38 billion, increasing by 25.6% in comparison with 2011. Income from investment and other activities in 2012 was VND 295 billion. Investment activities were safe, with no loss or bad debt.

Total profit before tax was VND 333 billion, which equals to 111.9% of the same period of last year and 111.1% of target.

Particularly in 2012, following Decision 315/QĐ-TTg of Prime Minister on pilot agriculture insurance, VINARE has actively cooperated with Bao Viet, Bao Minh and relevant agencies to deploy pilot agriculture insurance program. In spite of many difficulties, encouraging results have been achieved during the deployment process. Currently, VINARE and other parties are continuing to revise terms/conditions as well as policies/solutions relating to the pilot program in order to successfully execute Party and Government’s directions in pilot agriculture insurance area.

On 24^th June 2013, Prime Minister had Decision No 982/QĐ-TTg on offering Government’s Excellent Emulation Flag to all staff of Vietnam National Reinsurance Corporation for outstanding achievements and taking the lead in the patriotic emulation campaign of financial sector in 2012.