AM Best affirms VINARE's rating

AM Best has affirmed the “B++” (good) financial strength and “bbb+” (good) long-term credit ratings of Vietnam National Reinsurance Corporation (VINARE). The agency also confirmed the Vietnamese reinsurer's nationwide rating of “aaa.VN” (outstanding). The outlook is stable.

The rating acknowledges VINARE's solid balance sheet, strong operating performance, neutral business profile and appropriate enterprise risk management.

Over the period 2020-2024, the average combined ratio and the average return on equity (ROE) stood at 96.8% and 10.6% respectively.