Hanoi Reinsurance Joint Stock Corporation (Hanoi Re) shared its mid-year performance update during the 2025 Mid-Year Review Conference, marking the occasion alongside the company's 14th anniversary and recognizing long-serving employees, including those with 10 years of tenure.
The reinsurer reported revenue of VN$1,838 billion in the first half of 2025, reaching 127% of its planned target. Profit before tax came in at VN$127 billion, equivalent to 123% of plan.
The company also renewed several major reinsurance programs during the period and adjusted retention ratios, while also entering new markets.
Hanoi Re reported that its claims response efforts were actively deployed in connection with Typhoon Yagi in Vietnam, the Myanmar earthquake, and other large-scale events. The company stated that it maintained operational readiness to support clients affected by these incidents.
Typhoon Yagi, one of the most severe weather events to affect Vietnam in recent years, led to an estimated VN$11.6 trillion in insurance claims across multiple lines, including property, motor, and health.
For reinsurers operating in the region, including Hanoi Re, the event underscored the financial and operational demands associated with climate-related risks.
In response to these challenges, participants at the Hanoi Re International Conference (HRIC 2025) in April organized a charitable initiative aimed at supporting affected communities. Delegates contributed a total of VN$226,588,000 through voluntary donations and a fundraising auction.
In April last year, AM Best revised the outlook for Hanoi Re’s balance sheet strength from stable to positive, while affirming its financial strength rating of B++ (Good) and long-term issuer credit rating of “bbb.”
The outlook upgrade followed a capital increase that brought shareholders’ equity from VN$1,085 billion in 2022 to VN$1,786 billion by the end of 2023. According to AM Best, the improvement in capital adequacy and stronger earnings retention supported the shift in outlook.
The company also announced the adoption of an updated charter along with revisions to its internal governance framework. These include new regulations relating to risk management, compliance, and information disclosure.
Looking to the second half of the year, Hanoi Re identified three strategic priorities. These include expanding its reinsurance operations and increasing international reach, advancing digital transformation in policy and claims handling, and developing internal talent through targeted hiring, internal transfers, and specialized training.
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