The report provides in-depth market analysis, information and insights into the Vietnamese life insurance segment, including:
- The Vietnamese life insurance segment’s growth prospects by life insurance category
- Key trends, drivers and challenges for the life insurance segment
- The various distribution channels in the Vietnamese life insurance segment
- The detailed competitive landscape in the life insurance segment in Vietnam
- Detailed regulatory policies of the Vietnamese insurance industry
- Analysis of various consumer segments in Vietnamese life insurance
- Key developments in the Vietnamese life insurance segment
- New products launched by Vietnamese life insurers
Vietnam has one of the world’s most dynamic and rapidly expanding insurance industries, providing growth potential for life insurers. Vietnamese GDP rose from VND1.3 quadrillion (US$73.6 billion) in 2009 to VND1.9 quadrillion (US$92.3 billion) in 2013, at a review-period (2009–2013) compound annual growth rate (CAGR) of 5.8%, placing it as one of the fastest-growing economies in the South East Asian region. The life segment was the largest industry segment, accounting for 45.6% of the industry’s gross written premium in 2013. The segment’s growth was partly supported by a rise in the volume of middle class individuals.
This report provides a comprehensive analysis of the life insurance segment in Vietnam:
- It provides historical values for the Vietnamese life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
- It offers a detailed analysis of the key categories in the Vietnamese life insurance segment, along with market forecasts until 2018.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for life insurance products in Vietnam.
- It profiles the top life insurance companies in Vietnam and outlines the key regulations affecting them.
Reasons to buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Vietnamese life insurance segment and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Vietnamese life insurance segment.
- Assess the competitive dynamics in the life insurance segment.
- Identify the growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Vietnamese insurance industry and their impact on companies and the industry's future.
- Vietnam has one of the world’s most dynamic and rapidly expanding insurance industries, providing growth potential for life insurers.
- The life segment was the largest industry segment, accounting for 45.6% of the industry’s gross written premium in 2013.
- The segment’s growth was partly supported by a rise in the volume of middle class individuals.
- The country’s unemployment rate also decreased from 2.3% in 2009 to 2.1% in 2013. This created employment opportunities and improved the spending power of the middle classes.
- Private pension insurance in Vietnam was non-existence during the review period due to absence of regulatory provision to sell pension products and low awareness.
- The Vietnamese government brought in a new regulatory framework for pension insurance in October 2013.