Magazine Table of Contents
Despite the slowdown in the Vietnamese economy, insurers are confident that the market will resume its impressive growth momentum going forward. This is mainly because the economy has stabilised and a number of huge projects such as the urban railway project, the construction of nuclear power plants and the deployment of voluntary pension insurance are planned for 2014.
The Vietnamese economy is seeing a slowdown with the International Monetary Fund predicting a third straight year of sub-6% growth for the first time since 1988. However, this is not fazing the insurance market too much. Mr Trinh Quang Tuyen of the Association of Vietnamese Insurers (AVI) explains why.
Although Vietnam is facing a slight economic slowdown, the long-term outlook for the non-life insurance sector is still promising, says Mr Hoang Minh Tuan of
Asia Capital Reinsurance Group. He gives an update of the market, its developments and what (re)insurers should look out for.
Mr Lee Kian Chuan of Aon Benfield gives an update on the reinsurance scene in Vietnam, and says the industry is working on a flood realistic disaster scenarios model for the country, as well as building various databases of the risks there.
By Mr Luu Tien Ngoc, Partner, Director, Business Development, Vision & Associates.