The conference is an annual event, held on December 20, 2024, in Nha Trang City (Image: GIC).

According to the Department of the Insurance Supervisory Authority, as of the end of November 2024, the total insurance premium revenue of the entire market was estimated at VND 204,109 billion, marking a 0.22% increase compared to the same period last year. Notably, the non-life insurance market recorded a growth rate of 13.02%.

With the strong determination of all employees amidst the recovering economy, GIC successfully achieved its 2024 business targets, with total revenue reaching VND 2,405 billion—exceeding the plan by 115% and growing by 35% compared to 2023. As a result, GIC rose to the Top 11 non-life insurance companies with the highest premium revenue in Vietnam (as of the end of October 2024).

Mr. Hoang Thanh Tung – Chief Sales Officer presents the 2024 business performance report (Photo: GIC).

In 2024, the insurance industry faced numerous challenges, particularly the severe impacts of Typhoon No. 03 (Yagi). Despite these difficulties, GIC remained committed to prioritizing customer interests by swiftly handling claims, providing timely compensation, and effectively assisting customers in overcoming their losses. These efforts not only reaffirm GIC's dedication but also highlight the essential role of insurance in protecting communities against the increasingly unpredictable effects of climate change.

Representatives of subsidiaries raise questions at the Conference (Photo: GIC).

Looking ahead to 2025—the final year in GIC’s four-year journey (2022–2025) to break into the Top 10 non-life insurance companies with the highest premium revenue in Vietnam - GIC continues to implement key strategic projects. These include a comprehensive digital transformation across the entire system, enhancing claims processing efficiency, expanding sales networks through partner channels, and launching incentive programs to drive revenue growth.

The business network, consisting of 25 member companies, 2 business centers, and 3 business divisions, is united in its goal of achieving strong growth, demonstrating unwavering commitment to successfully fulfilling the 2025 business plan.

Mr. Ho Nam Thang – Chairman of the Board of Directors delivers strategic directives for 2025 (Image: GIC).

At the conclusion of the conference, Chairman of the Board of Directors, Mr. Ho Nam Thang, acknowledged the remarkable achievements of 2024 and shared his vision and strategic goals for 2025. He emphasized the importance of continuously enhancing internal capabilities and fostering innovation to swiftly adapt to new market opportunities and challenges. All these efforts aim to sustain GIC’s strong and sustainable growth while contributing to the advancement of Vietnam’s non-life insurance market.