Jun 2014

Read the latest edition of AIR and MEIR as an Interactive e-book

Country Profile

Vietnam, Cambodia, Laos - Ongoing opportunities still in sight

Though these emerging markets are still not drawing the expected FDIs, they still hold promising potential given the low market penetration. The lack of standardised regulations, improper pricing strategy, claims handling and unqualified agents pose a challenge though.

Vietnam, Cambodia, Laos - Promising potential

The insurance markets of Vietnam, Laos and Cambodia are showing promising potential. Mr Saman Wijaya Bandara of EY Vietnam gives a succinct insight into each country's industry, looking at players in the market, products, regulatory development and distribution trends.

Cambodia and Laos: Does it make sense to enter now?

Cambodia's and Laos' insurance markets are much smaller than neighbouring Vietnam's. Messrs Ben McDermott and Alan Merten of Towers Watson explore the situations in both markets and say that realism, patience and an ability to run efficient low-cost operations will be essential pre-requisites to anyone who answers "yes" to the question above.

Growing middle-class in Vietnam creates new opportunities for non-life insurers

When looking at the emerging insurance markets in Southeast Asia, Vietnam is hardly to be overlooked. The general economy is growing, even if it has shown signs of slowing down. Although the non-life insurance market is affected by this period of weakness, it remains promising: insurers may profit from these opportunities in the future. At the same time, some challenges must also be taken into consideration, for example, a sustainable pricing. Mr Andreas Matthias Kleiner of ERGO International analyses recent developments of the Vietnam non-life market.

Vietnam's Pension Market: Starting from scratch

The establishment of PVI Sun Life, a new joint venture company between Sun Life Financial and PVI Holdings, comes at a time when - despite some recent bumps in the road and short-term economic challenges - Vietnam is among the fastest growing economies in Southeast Asia. The company's formation also coincides with the establishment of the country's private pension sector and, with PVI Sun Life among a handful of companies pioneering the development of the pension business, the company's new CEO Michael Elliott reflects on the opportunity for insurers offering private pension products in Vietnam.

Significant "pre-agreed flexibilities"

By Ms Anna Tipping, Partner, Norton Rose Fulbright (Asia) LLP with content contributed by: Mr Antoine Fontaine, Partner of Bun & Associates, Cambodia, andMr Luu Tien Ngoc, Partner of Vision & Associates, Vietnam