Tổng Cty Cổ phần Tái Bảo Hiểm Quốc Gia Việt Nam

On 22^nd July 2016, Vietnam National Reinsurance Corporation (VINARE) has organized 2016 First Half Review Meeting.

Although the harsh competition still continues and businesses which require reinsurance protection g

Although the harsh competition in non-life insurance market still continued and businesses which require reinsurance protection had very low or almost no growth, VINARE has excellently outperformed the targets assigned by the Board of Directors.

Gross written premium was at VND887.2 billion, increasing by 8.3% in comparison with the same period of last year and being equal to 51.3% of whole year target. Underwriting profit was at VND35.7 billion, being equal to nearly 60% of the target. Investment and others income was at VND96.7 billion, being equal to 49% of the whole year target. Profit before tax was at VND132.4 billion and being equal to 51% of whole year target.

In addition to achievements in business operations, VINARE has focused on providing value added for the market through training on business knowhow and participating in doing risk survey for big accounts.

Particularly, in the first six months, VINARE has organized many seminars: Review meeting on offshore fishing boat insurance according to Decree 76/2014/ND-CP of the Government, review and discussion on Agriculture insurance and seminar on Natural Catastrophes insurance for Da Nang city.

According to the annual rating review results of A.M. Best, VINARE has continued to maintain the financial strength rating of B++ (stable outlook) and the issuer credit rating of “bbb” (positive outlook).

In the last six months, VINARE will try our best to outperform the 2016 business plan, enhance resources for Offshore fishing boat insurance, Agriculture insurance, Liability insurance, Cancer insurance and continue to provide value added services to clients. In addition, VINARE focuses on enhancing risk management capability, actuarial capability and develop pricing tool to ensure safe, efficient and sustainable business operations.

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