Deputy Prime Minister Vu Van Ninh said Vietnam welcomed such a prestigious insurer as Swiss Re to the country, as he received Swiss Re Chairman Global Partnership Martyn Parker in Hanoi on March 19.
The Deputy PM said the local insurance market, which was opened to foreign investors in 1993, has registered an average growth of 23-25 percent over the past five years.
Currently 57 businesses are operating in the country, offering a diverse range of services, including life and non-life insurance, reinsurance and brokerage
He briefed Parker about Vietnam’s efforts to curb inflation, maintain macro-economic stability and achieve sustainable development.
Martyn Parker said his group, which is a strategic shareholder of Vietnam National Reinsurance Corporation (VINARE) with a 25 percent stake worth 70 million USD, will be the re-insurer for the pilot agricultural insurance programme conducted by Bao Viet, Bao Minh and VINARE under the direction of the Ministry of Finance.
Swiss Re will also work closely with the Ministry of Finance and Vietnamese insurance companies in designing risk responding plans, improving risk management capacity ties and providing natural disaster insurance solutions.-VNA
The Deputy PM said the local insurance market, which was opened to foreign investors in 1993, has registered an average growth of 23-25 percent over the past five years.
Currently 57 businesses are operating in the country, offering a diverse range of services, including life and non-life insurance, reinsurance and brokerage
He briefed Parker about Vietnam’s efforts to curb inflation, maintain macro-economic stability and achieve sustainable development.
Martyn Parker said his group, which is a strategic shareholder of Vietnam National Reinsurance Corporation (VINARE) with a 25 percent stake worth 70 million USD, will be the re-insurer for the pilot agricultural insurance programme conducted by Bao Viet, Bao Minh and VINARE under the direction of the Ministry of Finance.
Swiss Re will also work closely with the Ministry of Finance and Vietnamese insurance companies in designing risk responding plans, improving risk management capacity ties and providing natural disaster insurance solutions.-VNA
