Specifically, the Official Letter of the Insurance Management and Supervision

Department said that following the direction of the Minister of Finance on

strengthening financial management, improving system safety and well
implementing regulations. According to the current law, on the basis of the
business report in 2022, a quick report on the financial situation of insurance
enterprises, the Insurance Supervision Administration recommends life
insurance businesses to implement a number of contents. important content.
Accordingly, in terms of financial management, the management agency
proposed life insurance businesses to review and strengthen cost
management, including costs for distribution channels, to ensure efficiency.
business performance and financial safety of insurance enterprises. At the
same time, review and re-evaluate investments in areas with high risk
coefficients and conduct investment activities to ensure compliance with
legal regulations, safety, efficiency and liquidity. Regarding professional
activities, risk management, internal control and internal audit, the Department
proposed insurers to strengthen their review and enhance appraisal quality
and improve insurance policy maintenance rates and quality. customer care.
At the same time, perfecting and organizing the implementation of risk
management policies, internal regulations on risk management, and
professional processes to ensure compliance with the provisions of Circular
70/2022/TT-BTC. November 16, 2022.