Leaders from the Ministry of Finance, representatives from the Vietnam Insurance Association, strategic shareholders, and AlphaRe's Board of Directors attended the event.

Speaking at the ceremony, Le Hoai Nam, Board member and Chief Executive Officer of AlphaRe, noted that the world faces multiple new layers of risk, from climate change and supply chain disruptions to geopolitical risks and cybersecurity, with insurance values reaching billions of USD. Nam explained, "These changes demand new approaches to risk assessment and management. Therefore, AlphaRe has chosen AI as the core of all operational decisions. Technology is not intended to replace humans but rather to expand and enhance the professional capabilities of Vietnamese experts."

Le Hoai Nam speaks at the launch ceremony. Photo: AlphaRe

A representative from the Ministry of Finance also emphasized that the Ministry encourages businesses in the sector to accelerate information technology application, promote digital transformation, and improve risk management capabilities in line with international standards. This, in turn, contributes to strengthening the competitiveness of Vietnam's insurance market regionally and globally.

More than 30 years since the Government's Decree 100 on insurance business was issued, Vietnam's insurance market has entered a phase of robust development with the establishment of many insurance enterprises. Within this progression, the reinsurance sector alone has recorded three significant milestones: VinaRe (1994), PVIRe—now Hanoi Re (2011), and AlphaRe this year.

AlphaRe focuses on digitizing the accumulated knowledge and experience of Vietnam's insurance market. Simultaneously, it develops and trains AI models based on data, practices, and the specific risk context in Vietnam. Consequently, AlphaRe is formed from the synergy of three foundations: using Vietnamese experience and capabilities as its foundation, AI as its driving force, and international governance and operational standards as its benchmark.

"These three pillars complement and amplify each other, shaping a new model that places Vietnamese people and Vietnamese intellect at its core while operating according to international standards," Le Hoai Nam stated.

AlphaRe launch ritual. Photo: AlphaRe

AlphaRe's long-term goal is not only to enhance risk analysis and management capabilities for the domestic market but also to retain knowledge, develop high-quality human resources, and elevate the role of Vietnamese professionals in the insurance industry's value chain.

The company does not pursue growth at all costs; instead, it prioritizes operational discipline, high standards, and long-term risk management. This approach is seen as the foundation for building a sustainable reinsurance enterprise that meets the increasing demands of both domestic and international markets.

Thanh Thu