Vice Minister Le Tan Can’s courtesy meeting with Group Chairman of FWD 18/01/2024 03:43:00 427

Vice Minister Le Tan Can’s courtesy meeting with Group Chairman of FWD

On the morning of January 18th, at the Minister of Finance Headquarter, Vice Minister of Finance, Mr. Le Tan Can had a courtesy meeting with the Chairman of FWD Group, Mr. Frederick Ma on the occasion of New Year 2024.

At the meeting, Mr. Le Tan Can spoke about the state of Vietnam’s macroeconomics in 2023, the development of the insurance industry in recent times, as well as the industry’s contribution to economic stability and social security. Vice Minister shared that in 2023, the Government has approved the insurance market development strategy until 2030, strengthening the legal corridor for the development of the industry, in particular the life insurance sector. The strategy aimed for 15% of the population to get life insurance coverage by 2025, and 18% by 2030. However, there still exists some problems within the insurance market that need to be overcome in the near future, e.g. the problem of insurance distribution through banks (Bancassurance).

Chairman Ma expressed his joy and sincerely thanked the support of the Ministry and the Insurance Supervisory Authority for the industry in general and FWD Group in particular. Chairman shared that although the Group has experienced many difficulties and challenges in 2023, he believes in long-term development in Vietnam, and pledges to continue to support and accompany the Ministry in projects and plans in the coming time.

At the end of the meeting, on behalf of the Ministry of Finance, Vice Minister affirmed that the Ministry will continue to create encouraging conditions for insurance businesses, and also expressed hope that the industry will continue to develop strongly within the framework of Vietnamese law to ensure people’s trust in the insurance and social security market./.