Vietnam: Bancassurance revenue hits record, market shifts
Source: Asia Insurance Review | Oct 2025
Life insurance sales via banks are rebounding, with many reporting substantial profits from bancassurance.
However, the bulk of these profits still flow to major banks, while smaller banks have seen some growth, though not as significantly.
According to Vietnam Insurance Association deputy general secretary Ngo Trung Dung, the life insurance industry is gradually regaining growth momentum after a period of decline. With new insurance premium revenue growing 8% in the first half of the year, Mr Dung noted this as a positive sign that the market is gradually regaining customer confidence.
Effective 1 July, the life insurance sector implemented a product overhaul, discontinuing many older plans. The new regulations standardise investment-linked insurance products, improving transparency and guaranteeing essential benefits for policyholders. A