Reporting at the meeting, General Director of Agribank Insurance Nguyen Hong Phong said that in 2024, the business activities of the insurance industry in general and Agribank Insurance in particular will face many difficulties and challenges due to the impact of natural disasters, storms and floods, especially storm Yagi, which caused severe damage to property and people; along with that, the inherent limitations and inadequacies of the Law on Insurance Business 2022 and the Law on Credit Institutions 2024 with many changes have created many difficulties for the Vietnamese insurance industry.
Overview of the working session
However, closely following the policies and orientations of the Party and Government, the leadership and direction of the Party Committee, the Board of Members, the Executive Board and the companionship of the Agribank system, the trust and support of 3 million customers and the efforts to overcome all difficulties of the entire Agribank Insurance system, the Company's insurance revenue is estimated at VND 2,431 billion (up 18% compared to 2023), pre-tax profit reached VND 256 billion. The strategic targets for the period 2021-2025 of Agribank Insurance have basically been completed, such as increasing charter capital to VND 723.9 billion. The Company has also expanded its network from 10 to 21 branches and upgraded its model to a Corporation; at the same time, developed many more insurance products associated with the operations of Agribank and rural areas.
Appreciating the achievements of Agribank Insurance in providing insurance products to Agribank customers, General Director Pham Toan Vuong emphasized: Agribank Insurance has made strong changes in recent times and has become one of the largest enterprises in the insurance sector. Agribank Insurance has become a strategic partner of Agribank in providing comprehensive financial and protection solutions to customers, especially in rural areas. The increasingly deep cooperation between Agribank and Agribank Insurance not only helps improve business efficiency but also brings practical values to people and businesses.
At the working session with the Agribank Board of Directors, Mr. Do Minh Hoang - Member of the Board of Directors of Agribank Insurance expressed his wish that the Agribank Board of Directors would focus on removing institutional and mechanism bottlenecks in the operations of Agribank Insurance, considering the operation of the Bancassurance channel as one of the official indicators in the bank's operations. This is very meaningful, especially when natural disasters occur, this is also one of the solutions for those working in credit.
Chairman of the Board of Directors of Agribank Insurance Nguyen Tien Hai speaks
Providing solutions to further promote the development of the Bancassurance channel, Agribank Deputy General Directors Hoang Minh Ngoc and Le Hong Phuc as well as members of the working group all hope that the Finance - Banking - Insurance axis will be one of the key activities of the two sides in the coming time. Therefore, Agribank and Agribank Insurance will work together to build insurance product packages with more outstanding characteristics to bring practical experience value to customers.
Giving opinions at the working program, leaders of the Personal Customer; Corporate Customer; Investment Departments of Agribank also discussed frankly with Agribank Insurance about the development direction of the Bancassurance channel and at the same time hoped that Agribank Insurance would strengthen and diversify its products and services to meet the increasingly diverse needs of customers. Along with that, Agribank Insurance needs to promote the application of information technology, promote customer care and compensation settlement. The specialized Departments also asked Agribank Insurance to find ways to further increase the legitimate benefits for agents.
Receiving comments from the Board of Directors of Agribank, Chairman of the Board of Directors of Agribank Insurance Nguyen Tien Hai expressed his appreciation for the attention and support of the Board of Directors of Agribank in particular and the Agribank system in general. Mr. Hai affirmed that Agribank is not only a partner but also an important companion in the development journey of Agribank Insurance. A closer connection with Agribank's financial ecosystem will help Agribank Insurance improve service quality, creating maximum benefits for customers. In the coming time, Agribank Insurance commits to continue to innovate products, expand distribution channels, and apply technology to bring the most optimal insurance solutions, better meeting the needs of customers in the digital age.
Source: https://daibieunhandan.vn/mang-lai-gia-tri-thiet-thuc-cho-nhieu-ben-post404765.html
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