Vietnam: National reinsurer rakes in profits of $2.4m in 2018
Source: Asia Insurance Review | Mar 2019
Vietnam’s national reinsurer has posted pre-tax profits of VND55.4bn ($2.38m) for 2018, an increase of 6% over 2017.
Vietnam National Reinsurance Joint Stock Corporation (VinaRe) is eyeing a 5% increase in pre-tax profit this year and a 9% increase in premium over 2018, reported Vietnam Finance.
VinaRe chalked up premium revenue of VND1.8tn in 2018, up 9.2% compared to 2017. Retention fees reached VND784.7bn, up by 33.7%.
Company officials say that in 2019, VinaRe will strengthen risk management, improve the efficiency of reinsurance activities; expand the reinsurance market and improve its capacity to provide added value to the market. More specifically, the company’s focus will include public property insurance, disaster risks, agriculture; the supply chain for customers. A