insurance firms to bounce back in 2024

Insurance firms to bounce back in 2024

A recent survey conducted by Vietnam Report between May and June found that a remarkable 45.6 per cent of insurance firms expect the insurance industry to grow nearly 5 to 10 per cent in 2024. Nearly 32 per cent of surveyed firms believe the economy will maintain a stable growth rate of 5.5 per cent.
life insurance players seek to rebuild trust

Life insurance players seek to rebuild trust

Vietnam’s life insurance industry, noted for its stringent regulations, should enhance product quality, transparency, and stakeholder balance for sustainable development, industry leaders have urged.
harsher actions demanded for insurance evasion

Harsher actions demanded for insurance evasion

Stricter penalties are being called for when employers delay or evade mandatory insurance payments, damaging the rights and benefits of workers.
pivotal time for makeup of vietnamese insurance

Pivotal time for makeup of Vietnamese insurance

After a decade of consistent growth, Vietnam’s insurance industry is now undergoing a period of adjustment. The total insurance premium in 2023 fell by 8.4 per cent to $9.5 billion, with the life insurance sector experiencing the most significant on-year decline at 12.5 per cent.
sun lifes charter capital now among the top three largest in vietnam

Sun Life's charter capital now among the top three largest in Vietnam

Following approval from the Ministry of Finance, Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) announced on March 29 that the company has recently increased its charter capital from VND16.48 trillion ($660 million) to VND17.94 trillion ($718.6 million).
fund for social insurance to be bolstered

Fund for social insurance to be bolstered

Efforts are gearing towards improving the relevant regulatory system for social insurance fund efficiency, further fostering economic development as well as social wellbeing.
andrew loh appointed aia vietnam ceo

Andrew Loh appointed AIA Vietnam CEO

On March 26, AIA (Vietnam) Life Insurance Co., Ltd. officially announced the appointment of Andrew Loh as its new chief executive officer.
hanoi pays attention to improving quality of peoples life

Hanoi pays attention to improving quality of people’s life

As one of the most populous cities in the country with a population of about 10 million people, the capital city of Hanoi has faced a lot of social issues relating to security and order, social evils and employment.
insurers 2024 profit targets indicate caution

Insurers' 2024 profit targets indicate caution

PetroVietnam Insurance Corporation (PVI) passed an ambitious revenue target of $725 million for 2024 at its AGM on March 21, a record figure representing an 8.17 per cent increase on-year.
bancassurance inspections imminent

Bancassurance inspections imminent

The Ministry of Finance is going to conduct inspections on six insurers, with a focus on those involved in bancassurance.
shinhan life vietnam launches endowment insurance product

Shinhan Life Vietnam launches endowment insurance product

Shinhan Life Vietnam has introduced an endowment insurance product with enhanced protection benefits called ‘Shinhan – Song An Vui’.
liberty insurance vietnam and mercedes benz vietnam sign insurance deal

Liberty Insurance Vietnam and Mercedes-Benz Vietnam sign insurance deal

Liberty Insurance Vietnam and Mercedes-Benz Vietnam on March 11 signed an agreement regarding the Mercedes-Benz Car Insurance programme to help customers access a comprehensive auto insurance solution.
bao minh insurance team up with technology partner hillridge to offer insurance for farmers

Bao Minh Insurance team up with technology partner Hillridge to offer insurance for farmers

Australian insurtech firm Hillridge launched a new partnership with Bao Minh Insurance on March 7 that offers its new Typhoon Index Insurance product, a Vietnam-first new parametric product to protect Vietnamese acacia timber farmers from the nation's devastating typhoons.
vietnam boasts huge growth potential for insurtech

Vietnam boasts huge growth potential for insurtech

Vietnam is poised for significant insurtech growth, driven by its modest insurance penetration rate and growing demand.
shinhan life vietnam launches new insurance distribution channel

Shinhan Life Vietnam launches new insurance distribution channel

Korean-backed Shinhan Life Insurance Vietnam Co., Ltd. officially introduced its financial consultancy FC Channel today, underlining the company’s strong commitment to implementing sustainable and long-term growth strategies in the Vietnamese market, while providing Vietnamese customers with access to comprehensive and tailored financial protection solutions.