Tag Search Result

  • Vietnam: Premiums surge by 22% in first 8 months

    Total premium collected by insurance companies in the first eight months of 2017 surged by 21.9% year on year to nearly VND65.56 trillion (US$2.9 billion).

    Source : AIR | 01 Oct 2017
  • Vietnam: Number of workers in informal sector exceeds 18 mln

    Vietnam has more than 18 million unofficial workers, with seven out of every 10 of them ignorant about employment policies and more than 40% unaware of voluntary social insurance, according to a survey by various national agencies and the International Labour Organisation (ILO).

    Source : AIR | 01 Nov 2017
  • State-owned Russian reinsurer sets sights on Asia

    The Russian National Reinsurance Company (RNRC) was established by Russia’s Central Bank in August 2016 but only started operations in January 2017. However, it has already gained CIRC’s approval to operate in China in the specialty market, and has been granted a licence in Egypt. We caught up with Vice-President of Business Development Igor Karpovich at the SIRC 2017 to learn more about the reinsurer’s hunger for new business in the region.

    Source : AIR | 01 Dec 2017
  • Echo Re targeting more Asian business

    Dr Peter F Hugger is the man at the helm of Echo Re since February 2012. Having spent a considerable part of his 30-year professional life in Asia, with some of the top names in the reinsurance business, he is now ready to chart a new course for Echo Re in Asia, where the company already has a big presence and where he believes lies the opportunity for international players like his. He speaks to Asia Insurance Review on his new plans and strategy for the region, and the future ahead for his company.

    Source : AIR | 01 Dec 2017
  • Samsung Re: Expanding beyond group business

    Samsung Re has been keeping a low profile since its inception in 2011 but of late, the reinsurer has adopted a new strategy to expand its operations beyond its group business and into newer territories across Asia. We speak to Mr Tae Y Choi, CEO, Samsung Re at the SIRC, to find out the plans and strategies ahead for the company.

    Source : AIR | 01 Dec 2017
  • Vietnam: Authorities set health and healthcare goals

    About 95% of the Vietnamese population will be covered by national health insurance by 2025, according to a target set by the Communist Party of Vietnam at a plenum in October. 

    Source : AIR | 01 Dec 2017
  • Vietnam: Regulatory official outlines goals for insurance market

    The insurance market needs to focus on two goals this year, which are to maintain a stable and sustainable growth rate, attracting more investors, and to enhance the role of insurance in the economy, according to Mr Phung Ngoc Khanh, Director of the Finance Ministry’s Department of the Insurance Supervisory Authority.

    Source : AIR | 01 Feb 2018
  • Look out for these what-if scenarios - WEF's 10 potential future shocks

    The growing complexity and interconnectedness of our global systems can lead to feedback loops, threshold effects and cascading disruptions. Sudden and dramatic breakdowns – future shocks – become more likely, according to the Global Risks Report 2018 published by the World Economic Forum.

    Source : AIR | 01 Mar 2018
  • Vietnam: 25% of housing blocks in Hanoi covered by insurance

    Only 179 or around a quarter of 718 multi-storey apartment buildings in Hanoi were covered by fire insurance as at 4 April, according to the Hanoi fire prevention and control police department. More than half of the 179 apartment buildings which are insured are high-class buildings, according to Vietnam News.

    Source : AIR | 01 May 2018
  • Banc-ing on life growth

    Bancassurance attracts some of the biggest insurers and banks with its allure of a strategic win-win, faster growth and scale economies – we look at the state of bancassurance in some Asian markets.

    Source : AIR | 01 May 2018
  • Vietnam: Bao Viet tops finance league but ranks 2nd in insurance

    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.

    Source : AIR | 01 Jun 2017
  • Vietnam: Farmers to get premium subsidy for agriculture cover

    Farmers from poor or near poor households will receive support of up to 90% for agriculture insurance premiums from the government, according to a new resolution issued by the authorities.

    Source : AIR | 01 Jun 2018
  • Vietnam: Social insurance agency and Health Ministry share household database

    Vietnam Social Insurance (VSI) has agreed to share with the Ministry of Health (MoH) its database of more than 24 million households.

    Source : AIR | 01 Jul 2017
  • Vietnam: World Bank urges action on pension fund

    Vietnam’s economy could be at risk if nothing is done quickly to fix its state pension system, the World Bank has warned after conducting two years of research.

    Source : AIR | 01 Jul 2018
  • Where does the pursuit of digitalisation lead?

    The insurance industry’s pursuit of digitalisation continues even as the hype around disruptors fades. But where are insurers’ investment dollars being channelled and what exactly are they looking to achieve? Are some parts of the insurance value chain more equal than others? 

    Source : AIR | 01 Jul 2018
  • Asia: Protecting crops and farmers

    Fifteen members of the collaborative UNDP-FAO Integrating Agriculture in National Adaptation Plans (NAP-Ag) Programme from Nepal, the Philippines, Thailand and Viet Nam were involved in a recent peer-to-peer exchange to discuss how proper application of climate information and applied research could inform better decision making and reduce loss.

    Source : AIR | 01 Aug 2017
  • CSR gives insurers a community connect

    Insurers around Asia now see CSR as an opportunity to build bridges with communities which not only creates goodwill for their business but also helps them make a meaningful contribution to society. 

    Source : AIR | 01 Aug 2018
  • Vietnam: Insurers battle stubbornly high medical inflation

    With the annual medical inflation rate in Vietnam hovering near 20% for the past several years, given the imbalance in supply and demand in the private healthcare system, insurers are pessimistic about it improving any time soon. This is imposing significant pressure on underwriting margins and putting benefits sustainability at risk.

    Source : AIR | 01 Aug 2018
  • Vietnam: Insurers welcome majority, even 100%, foreign participation

    Insurers are keen to have higher holdings in their shares by foreign investors so as to improve ratings and expand their market share.

    Source : AIR | 01 Sep 2017
  • Asian Insurers: Greater Expectations!

    Reinsurers play an increasingly important role in most insurance markets in Asia and each year the expectations grow. So this year, in our coverage to kick start the renewal season with Monte Carlo, we polled a team of “seven wise” insurers around the region from big and small markets to gauge their expectations. Reinsurers have big shoes to fill. The market awaits.

    Source : AIR | 01 Sep 2017
  • Vietnam: Life sector more than doubles revenue in 1H2018

    The total revenue of the 18 life insurance firms operating in Vietnam reached VND36tn ($1.55bn) in the first six months of this year, while their insurance premiums from new contracts reached VND12.5tn, up by 128% and 125%, respectively, against the corresponding period last year.

    Source : AIR | 01 Sep 2018