On January 10, 2024, at the company headquarters, Hanoi Reinsurance Joint Stock Corporation (Hanoi Re) successfully held its annual business review conference for 2024 and implementation of 2025 plan. The conference highlighted significant milestones and achievements of Hanoi Re amidst a challenging market landscape.
Speaking at the conference, Mr. Trinh Anh Tuan, CEO of Hanoi Re, emphasized that despite the major challenges of 2024, including severe damages caused by Typhoon Yagi to Vietnam’s insurance market, the company achieved its business targets for revenue and profit, reaching VND 240 billion. This accomplishment ensured a 16% cash dividend payout as approved by the General Meeting of Shareholders. These results reflect Hanoi Re’s robust risk management capabilities and flexible adaptability to unpredictable market fluctuations.
The CEO also noted that 2024 marked a significant milestone for the company with substantial progress in expanding into international markets, establishing partnerships with leading global firms, and initial penetration into new markets while increasing market share in key regions.
Positive Credit Rating Outlook
Hanoi Re continued to receive high recognition from international credit rating agencies. In 2024, AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR). The company also successfully maintained its Financial Strength Rating of B++, affirming its financial strength and growth potential.
Pioneering in Technology Application
Hanoi Re has consistently invested in technology, advancing its digital transformation efforts and researching artificial intelligence (AI) applications in business operations and management. These initiatives aim to enhance operational efficiency, optimize processes, and deliver faster, better services to clients and partners.
Strengthening Brand Positioning
Alongside its business activities, Hanoi Re actively pursued brand positioning efforts. Well-organized and professional communication programs and events, notably the Hanoi Re Appreciation Rhapsody 2024 concert held at Ho Guom Theater, made a strong impression and significantly enhanced Hanoi Re’s brand visibility among customers and the community.
Looking to the Future
With its highlights and achievements, Hanoi Re confidently steps into 2025 with ambitious goals. The company remains committed to sustainable development, market expansion, leveraging advanced technologies, and enhancing service quality, contributing to the overall growth of Vietnam’s insurance industry.
