Dear Valued Shareholders, Customers and Partners and all employees,
Reflecting on 2024, we navigated a year marked by volatility, challenges, and new opportunities. Despite the global economy being strained by inflation, geopolitical tensions, and tighter monetary policies, Vietnam’s economy maintained a stable growth trajectory.
Vietnam’s GDP in 2024 recorded positive growth, driven by the strong recovery in manufacturing, exports, and domestic consumption. The Government’s timely stimulus measures, including increased public investment and improvements in the business environment, further enhanced Vietnam’s appeal as a destination for foreign direct investment and affirmed its position as a reliable economic partner in the region.
Vietnam’s insurance sector in 2024
According to market statistics, total gross written premiums across the insurance industry were estimated at 227.5 trillion VND in 2024, a slight decline of 0.25% compared to the previous year. Of that, the non-life insurance sector accounted for 78.3 trillion VND, reflecting a solid growth of 10.2%.
Vietnam’s insurance industry underwent important developments in 2024, with regulatory adjustments aimed at improving transparency and consumer protection. These efforts contributed to building customer trust and fostering the growth of voluntary insurance products.
Technology remained a vital growth driver for the industry. InsurTech is transforming operations, enabling faster, more seamless customer experiences. Insurance companies are actively investing in digital transformation, leveraging artificial intelligence and big data to optimize underwriting, claims processing, and customer service.
Vietnam’s Insurance Sector in 2025 and Bao Long’s Operational Plan
Looking ahead to 2025, the insurance sector is expected to face continued challenges, yet opportunities also abound for Bao Long to accelerate and make a strong impression in its 30th year of operation in Vietnam. Bao Long remains committed to sustainable development, with a strategic focus on enhancing customer service, expanding distribution channels, advancing digital transformation, and strengthening risk management capabilities.
As we approach the significant milestone of our 30th anniversary (1995–2025), we not only reflect on our proud journey but also look forward with confidence to the road ahead. Backed by a strong foundation built on the unity of our workforce, the trust of our valued customers and partners, Bao Long is determined to elevate its brand and continue delivering long-term value to the community and Vietnam’s insurance market.
On behalf of the Board of Directors and Leadership Team of Bao Long Insurance Corporation, I would like to extend my sincere appreciation to our customers, partners, shareholders, and employees. We wish you good health, happiness, and continued success.
We wish you good health, happiness, and continued success!
Best regards.
