The launch ceremony was attended by leaders of the Ministry of Finance, representatives of the Insurance Association of Vietnam, strategic shareholders, and the company’s executive board.
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| Official launch of Alpha Reinsurance JSC |
Speaking at the event, a representative of the Ministry of Finance explained the importance of technological advancement within the industry.
“The Ministry of Finance encourages insurance businesses to accelerate the application of IT, promote digital transformation, and enhance risk governance in line with international standards. These efforts will help strengthen the competitiveness of Vietnam’s insurance market both regionally and globally,” the representative stated.
More than three decades after the issuance of Decree 100-CP on insurance business, Vietnam’s insurance market has entered a period of robust development with the establishment of numerous insurers.
Within this trajectory, the reinsurance segment has recorded three notable milestones: the founding of VinaRe in 1994, PVIRe – now Hanoi Re – in 2011, and most recently AlphaRe in 2025.
Established in the next phase of industry evolution, AlphaRe does not position itself as a newcomer, but rather as a conscious continuation of the sector’s legacy.
At the ceremony, Le Hoai Nam, member of the Board of Directors and general director of AlphaRe, highlighted the growing complexity of global risk.
“The world is facing multiple layers of emerging risks, ranging from climate change and supply chain disruptions to geopolitical tensions, cybersecurity threats, and large-scale data centres with insured values reaching billions of US dollars. These developments require new approaches to underwriting and risk management,” he said.
“In response, AlphaRe has chosen AI as the ‘heart’ of its operational decision-making. However, technology only holds real value when built upon local knowledge and experience. Therefore, we are focused on digitising and systematising the accumulated expertise of Vietnam’s insurance market, developing AI models grounded in domestic data, practical realities, and Vietnamese risk perspectives.”
Nam stressed that technology was not intended to replace human expertise. “Rather, it is deployed to expand and enhance the professional capacity of Vietnamese specialists, thereby retaining knowledge, added value, and core competencies within the domestic market,” he said.
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| Le Hoai Nam, member of the Board of Directors and general director of AlphaRe, delivers remarks at the launch ceremony |
AlphaRe is built upon the synergy of three foundations: Vietnamese experience and resilience as its bedrock, AI as its driving force, and international governance and operational standards as its benchmark.
These three pillars complement and reinforce one another, shaping a new model that places Vietnamese people and intellect at its centre while operating in accordance with global standards.
In the long term, AlphaRe aims to strengthen risk analytics and risk management capacity for the domestic market, while retaining its expertise, developing high-quality workers, and elevating the role of Vietnamese professionals within the global insurance value chain.
The company does not pursue growth at any cost. Instead, it prioritises underwriting discipline, operational standards, and long-term risk governance as the foundation for building a sustainable reinsurance enterprise aligned with increasingly stringent domestic and international market requirements.
AlphaRe’s establishment is dubbed to signal a new approach in Vietnam – one in which technology is leveraged to elevate human capability and reinforce the intrinsic strength of the country’s insurance market in its next stage of development.
