Vietnam: Bao Viet tops finance league but ranks 2nd in insurance
Source: Asia Insurance Review | Jun 2017
For the first time, the Bao Viet Group has become the leading finance and insurance company in Vietnam, when it posted revenues of US$1 billion last year.
However, PVI retained the leading position in insurance, with $297.6 million, up 5.03% for a market share of 18.65%, data from the Insurance Supervisory Authority (ISA) shows.
The remaining four market leaders were Bao Viet, with $278 million, up 8.65% for a market share of 17.41%; Bao Minh, with $133 million, up 7.5% for a market share of 8.3%; PTI, with $132.5 million, up 22.7% for a market share of 8.3%; and PJICO, with $108.2 million, up 10.6% for a market share of 6.8%.
Total insurance premiums were $3.78 billion last year, representing a rise of 22.6% over 2015. Non-life premiums were estimated at around $1.6 billion, an increase of 14% over 2015. A