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.
voluntary social insurance participants up 305 folds in 16 years vss

Voluntary social insurance participants up 305 folds in 16 years: VSS

The number of voluntary social insurance participants has risen 305 folds to 1.83 million since the policy was put in place in 2008, according to the Vietnam Social Security (VSS).
health insurance coverage reaches 9335 per cent of population

Health insurance coverage reaches 93.35 per cent of population

Vietnam Social Security (VSS) has completed or surpassed all targets regarding the coverage of social, unemployment, and health insurance. In particular, health insurance coverage reached 93.35 per cent of the population, exceeding the requirement set out in Resolution No 01/NQ-CP dated January 6, 2023, from the Government by 0.15 per cent.
healthy lifestyles praised on a rainy day

Healthy lifestyles praised on a rainy day

On January 21, Sun Life Vietnam Insurance Company, along with its main partner Saigon Heat, the reigning champion of the Vietnam Basketball Association(VBA), conducted the High Hoop Basketball Festival for children aged 8 to 13 in Hanoi.