Vietnam has 66 insurance companies, of which 30 are non-life insurers, 18 life insurers, 2 re-insurers, 16 insurance brokers and 21 representatives of foreign insurers.
2019 marked the sixth year in a row that the Vietnamese insurance market has achieved a premium growth rate of over 20%. Total assets are VND 454 trillion, increasing by 15.03%.
Household incomes are growing in accordance with people’s awareness of the benefits of insurance.
Leading insurers have access to capital and are introducing innovative and appropriate products through multiple distribution channels. Whilst the regulator works to improve transparency and standards.
Premiums are forecasted to demonstrate double-digit growth.
Table of contents
2.New regulations on Industry development
3.External Influences on the Insurance Industry
7.Re-insurance and Insurance Brokers
9.Market structure and top companies
List of tables
Table 1. Top Life Insurance Companies ranked by Gross Written Premium
Table 2. Top Non-life Insurance Companies ranked by Gross Written Premium
Table 3. Top Insurance Brokerages ranked by Gross Written Premium
List of figures Overview
Figure 1. The 10-year development of life and non-life insurance industry (2011 – 2020)
Figure 2. Insured population ratio External Influences on the Insurance Industry
Figure 3. Fire and explosion risk
Figure 4. Traffic accidents in Vietnam through years
Figure 5. Vietnam natural disasters’ consequence through years External Influences on the Insurance Industry
Figure 6. Worldwide epidemic record
Figure 7. Number of new cancer cases in 2018, both sexes, all ages
Figure 8. Number of deaths by cancer sites Life Insurance
Figure 9. Gross Life Insurance Premium
Figure 10. Market Dominators' Premium
Figure 11. Premium income of life insurers
Figure 12. Profit before tax of life insurers Non-life Insurance
Figure 13. Gross non-life insurance premium
Figure 14. Premium Dominators
Figure 15. Premium income of non-life insurers
Figure 16. Non-life insurance premiums by product lines (2016 - 2023) Bancassurance
Figure 17. Share of Bancassurance in life insurance market
Figure 18. Vietnam’s Bancassurance growth rate
Figure 19. Net profit from bancassurance of Vietnam’s banks 2019 Re-insurance and Insurance Brokerages
Figure 20. Premium revenue from Insurance Brokers in 2018
Figure 21. Insurance premium through brokers by product lines Industry forecast
Figure 22. Real GDP growth rate (%)
Figure 23. Average monthly income per capital (million VND)
Figure 24. Average written premium on GDP
Figure 25. Insurance market penetration gap (%)
Figure 26. Market size of Vietnam's Insurance Industry
Figure 27. Scale & growth rate of total operational reserves
Figure 28. Investment in the economy
Figure 29. Insurance claims
Figure 30. Market structure and top companies
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Vietnam Country Report studies four main aspects including political, economic, socio-cultural and technological environments in Vietnam in order to provide an insightful overview of Vietnam in the past, in 2020, and in the coming years.