Vietnam: Tertiary degrees to be required for some insurance functions
Source: Asia Insurance Review | Oct 2019
The government has issued a decision requiring tertiary qualifications for insurance agents, actuaries and risk management executives. The regulation, identified as Government Decision 93, is set to take effect in November.
Agents, who consult and sell policies independently, must possess insurance-relevant university degrees and certificates.
Risk analysts must possess a university or higher degrees in risk management majors or relevant certificates.
The decision also requires insurance actuaries, who analyse financial risks, to possess a university or higher degrees.
There are 64 insurance entities operating in Vietnam. They include 30 non-life insurers, 18 life insurers, two reinsurance companies and 14 insurance brokerage companies. A