This March, Vietnam National Reinsurance Corporation (VINARE) and Catalytics, a catastrophe modeling company in Asia, has signed a Memorandum of Understanding (MOU) to jointly develop natural catastrophe models for Vietnam.

Both parties will cooperate to develop models covering flood, storm and earthquake perils in order to enhance VINARE’s natural catastrophe risk management capability and build a sustainable and effective (re)insurance solution for the market.

The MOU was signed by CEO of VINARE and acting CEO of Catalytics, with the presence of officials from Insurance Supervisory Authority, Ministry of Finance.