In the afternoon of September 27, 2024, the signing ceremony of the Memorandum of Understanding between the Swiss Re and Vietnam National Reinsurance Corporation (VINARE) took place at VINARE headquarters. Swiss Re is one of the world’s leading reinsurers and has also been a strategic shareholder of VINARE for the past 16 years.

Attending the ceremony, Mr. Nguyen Anh Tuan – Executive Chairman of the Board of Directors of VINARE, Mr. Mai Xuan Dung – CEO, Mr. Nguyen Manh Linh – Deputy CEO and representatives of the underwriting departments represented VINARE. Meanwhile, Mr. Seng Lee – Co-head of Corporate Development of Swiss Re Group, Mr.Balasubramanian Nagarajan – Market Head of SEAN, and also Director of the Malaysian branch of Swiss Re Asia Pte. Ltd, and senior underwriters such as Mr. Pham Xuan Thai, Ms. Pearly Ong attended the event on behalf of Swiss Re.

Maintaining a continuous partnership, this Memorandum of Understanding continues being an extension of the Strategic Cooperation Agreement between VINARE and Swiss Re in the last six years.

At the signing ceremony, the two sides agreed to cooperate in business development in the public sector and the non-public sector. For the public sector, Swiss Re will support the development of insurance products in the fields of Agriculture, Public assets, National Natural Catastrophe, State-owned enterprises and other public programs for the Vietnamese market. In addition, Swiss Re also provides VINARE with various tools and technical support in reinsurance underwriting activities. VINARE, as the national reinsurer of Vietnam, will coordinate and connect the insurance market, organizations and domestic authorities to jointly build and develop products with Swiss Re.

Swiss Re has been a strategic shareholder of VINARE since 2008 and is the leading reinsurer of the pilot Agricultural insurance program under Decision 315 of the Prime Minister in the period 2011 – 2013 and continues to support the current Agricultural insurance program.