On the evening of September 27th in Hanoi, Vietnam National Reinsurance Corporation (VINARE) solemnly celebrated its 30th Anniversary (September 27, 1994 – September 27, 2024) and expressed gratitude to regulatory bodies, shareholders, partners, and valued clients.

The event was graced by the presence of representatives from the Ministry of Finance, the Insurance Supervisory Authority, the Insurance Association of Vietnam, the State Capital Investment Corporation (SCIC), representatives from the strategic shareholder Swiss Re, as well as major shareholders, domestic and international insurance/reinsurance companies, insurance brokers, reinsurance brokers, and insurance loss adjusters. Also in attendance were members of the Board of Directors, the Supervisory Board, the Board of Management, past and present employees of VINARE.

VINARE was established on September 27, 1994, under Decision No. 920/TC/TCCB issued by the Ministry of Finance. With an initial charter capital of VND 40 billion, over three decades of development, VINARE has continuously expanded its scale, demonstrating remarkable growth in its financial indicators. By the end of 2023, VINARE’s total assets reached VND 7,713 billion; charter capital stood at VND 1,658 billion; and owners’ equity amounted to VND 3,446 billion. The market capitalization as of December 29, 2023, was VND4,228 billion.

VINARE was one of the first two insurance/reinsurance companies in the Vietnamese insurance market to achieve a credit rating from the international rating agency AM Best since 2013, and it has consistently maintained a B++ rating, reflecting its strong financial position and good business performance.

With outstanding achievements in business operations and significant contributions to the Vietnamese insurance market throughout its 30-year journey of development, VINARE has been honored with numerous prestigious awards from the State, Government, and the Ministry of Finance. These accolades include the Third-Class Independence Order, First-, Second-, and Third-Class Labor Orders, as well as several esteemed awards and recognitions for corporate governance and information disclosure for listed companies.

Speaking at the event, Chairman of the Board of Directors, Mr. Nguyễn Anh Tuấn, on behalf of the VINARE leadership and all employees, expressed deep gratitude for the close attention and guidance of the Government and the Ministry of Finance, as well as the ongoing support and cooperation from shareholders, particularly the long-standing and committed major shareholders such as VINARE’s largest shareholder – the State Capital Investment Corporation (SCIC), the strategic shareholder – Swiss Re, a leading global reinsurance group, Bao Viet Holdings, and several other shareholders. He also acknowledged the invaluable and strong partnerships with domestic and international clients and partners. Thanks to this invaluable guidance, support, and cooperation, VINARE has continuously achieved remarkable business results, solidifying its strong position in the insurance market. The company has also successfully fulfilled its role and mission as a key link connecting domestic insurance companies with each other and with international partners. VINARE has realized its vision and objectives of being a reliable partner, providing long-term, effective solutions that comply with legal regulation and international standards, thereby delivering sustainable added value to both domestic and international partners.

At this event, VINARE announced that it would allocate the entire budget originally set aside for sporting events with shareholders, partners, and clients during the company’s anniversary year to support communities affected by storms and floods. The funds will aid in the reconstruction of lives after natural disasters. Together with domestic insurance companies, VINARE promptly arrived at the disaster sites, assessed the damages, advanced compensation payments, and swiftly implemented measures to mitigate and address the losses. VINARE also provided support for the recovery of businesses’ production activities and the livelihoods of people severely impacted by Typhoon No. 3.

Thirty years – it is not just a number, but a story. A story of perseverance, long-term vision, and, above all, a journey of growth, resilience, and VINARE’s aspiration to reach greater heights. As we embark on a new chapter, VINARE is committed to strengthening its bonds with partners and clients, pursuing sustainable development goals, enhancing value for shareholders and the community, while continuing to join forces with domestic insurance companies in fulfilling our mission of providing a shield against risks and losses for the economy, businesses, and the people. With a long-term vision, VINARE is confident in the continued partnership and support from all stakeholders, as together we build a strong, internationally integrated economy.

Under the theme “With United Strengths,” the 30th-anniversary celebration of the Vietnam National Reinsurance Corporation is not only a tribute and deep expression of gratitude to the regulatory authorities, shareholders, partners, clients, and generations of VINARE employees who have journeyed alongside us with dedication and passion, but also a call to unity and determination. It inspires VINARE’s entire leadership and staff to confidently step into a new era, aiming to achieve even greater goals. This ensures that VINARE will maintain its position as Vietnam’s national reinsurer while contributing to the sustainable development of the insurance market and the prosperity of Vietnam’s economy.