Country Profile:Vietnam - Growth will thrive in the latest Asian dragon
Source: Asia Insurance Review | Jul 2009
The current economic crisis is not putting a damper on this emerging market’s insurance industry. Ms Manuelita Contreras and Ms Shakun Ashoka Raj meet with players in the market and find that the regulator, non-life and life insurers as well as local and foreign reinsurers are optimistic about the prospect of this vast country.
Most of the optimism comes from the life insurance sector as with a total population of 86 million and only about 7% are insured, the potential is enormous. In the non-life sector, there is a distinct slowing down of the economy and keen competition is increasingly making it a bit more difficult to grow profitably. However, insurers here too, believe that business will be back to its high double-digit growth once the global economy recovers.
Archived articles are available to Magazine subscribers only.
For Full Access to
the magazine
SUBSCRIBE here.