AM Best, a global credit rating agency specializing in insurance with over 125 years of experience and headquartered in the US, operates in over 100 countries. Its ratings are widely considered a "passport of international credibility" for insurance companies.

According to AM Best's report, MIC possesses a "strong" balance sheet strength, achieving the highest level of risk-adjusted capitalization under the Best’s Capital Adequacy Ratio (BCAR) model. The company's financial flexibility stems from a decade of consistent capital growth, a prudent investment strategy, and an asset portfolio focused on cash, term deposits, and fixed-income bonds. MIC's reinsurance program, partnered with highly rated reinsurers, effectively manages catastrophe and large loss risks, ensuring long-term solvency and financial stability.

MIC staff advising a customer. Photo: MIC Insurance

MIC staff advising a customer. Photo: MIC Insurance

Regarding operating performance, AM Best assessed MIC as "adequate," with an average five-year return on equity (ROE) of 11.2% and a combined ratio of 98.5%. Despite the impacts of Typhoon Yagi and other unforeseen circumstances in 2024, MIC rebounded with restored insurance profits in the first quarter of 2025.

In the first six months of 2025, MIC increased its charter capital to 2,014 billion VND. Gross written premiums reached 2,632 billion VND, a 2.2% year-on-year increase. Profit before tax reached 231.5 billion VND, a 31.1% increase. The combined ratio was controlled at 92.6%, reflecting effective cost control and risk management. The company maintains its position among the top 4 non-life insurers in Vietnam.

Furthermore, AM Best recognized MIC's comprehensive digital transformation strategy. The company operates a technology-integrated insurance model across its entire value chain: from underwriting and policy issuance to risk management and claims settlement. These processes are implemented on a modern core insurance platform, supporting multi-channel connectivity, real-time processing, and an enhanced digital customer experience.

According to a company representative, the application of centralized data improves MIC's operational efficiency, enhances risk portfolio forecasting and control, and meets the increasingly stringent governance requirements of the insurance industry.

Besides financial strength, experts also highlight the "bbb" long-term issuer credit rating, indicating MIC's solid credit foundation. This enables the company to raise long-term capital, expand financial cooperation, and invest in projects requiring high transparency and governance.

Mr. Dinh Nhu Tuynh, CEO of MIC. Photo: MIC Insurance

Mr. Dinh Nhu Tuynh, CEO of MIC. Photo: MIC Insurance

Mr. Dinh Nhu Tuynh, CEO of MIC, stated that the AM Best rating provides objective validation of the company's financial capacity, management effectiveness, and integrated development strategy.

"This is not only a significant milestone but also a springboard for MIC to continue its transparent development towards becoming a leading modern digital insurer in the region," he said.

MIC currently operates a diverse distribution system, including bancassurance, an internal sales force, and a traditional agency network. It also benefits from the brand recognition and customer base of its parent bank, MB Bank. Its product portfolio focuses on key lines of business such as motor, health, property, and engineering insurance.

Minh Ngoc