The average annual growth rate of Vietnam's insurance industry for the five years from 2016 to 2020 was about 22%, with the non-life insurance market growing by 13% on average, the life insurance market showing average growth of 28%.
Singapore-based FinTech startup firm GoBear, which began operations as platform for comparing insurance plans of different insurers, has announced that it will cease operations and close its business.
Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) and Asia Commercial Joint Stock Bank (ACB) have formed a 15-year exclusive bancassurance partnership in Vietnam.
Prudential Vietnam Assurance Private Ltd. ("Prudential Vietnam") and Southeast Asia Commercial Joint Stock Bank ("SeABank" - Vietnam) have further strengthened their strategic partnership by signing a Memorandum of Understanding ("MOU") agreement to distribute digital products.
Manulife Vietnam and Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) have signed an agreement to establish an exclusive 16-year bancassurance partnership to better serve the growing financial and insurance needs of the Vietnamese people.
Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Manulife (Vietnam) have signed an agreement to establish an exclusive 16-year bancassurance partnership to better meet the growing financial and insurance needs of the Vietnamese people.
Bao Minh Insurance Corporation's (BMI) overall earnings have been supported over the past five years (2015-2019) by healthy investment returns averaging in excess of 5% per annum, although these returns are expected to decline over the near term given domestic interest rate reductions seen in 2020, says AM Best.
Vietnam's National Assembly, the country's top legislature, has approved the amended Labour Code, including raising the retirement age gradually.
Guy Carpenter has launched a new, fully probabilistic model for Vietnam floods that provides countrywide coverage and enables insurers to assess their exposure to floods, which affect 70% of the country's population.
Chubb has announced the appointment of Khue Dinh as the new country president for their Vietnam general insurance business, with immediate effect.