The Vietnamese government has formulated the Strategy for the Development of Vietnam's Insurance Market to 2030, with the goal of developing insurance entities with strong financial capacity, management capacity approaching international standards, efficient operations and the ability to compete actively in domestic and regional markets.
The insurance regulator will continue to implement solutions to support the development of the insurance market in 2023 and beyond, according to Mr Ngo Viet Trung, director of the Insurance Management and Supervision Department of the Ministry of Finance.
Health insurance is forecast to be the most active segment in the non-life insurance sector in Vietnam in 2023.
A planned capital injection to Post-Telecommunication Joint Stock Insurance Corporation (PTI) has faced ongoing delays, notes AM Best. This capital injection, when effected, would substantially relieve pressure on the company's risk-adjusted capitalisation, the global credit rating agency says.
Insurance companies stand to earn higher profits in 2023 thanks to rising interest rates.
The claims experience of Bao Minh Insurance Corporation (BMI) continued to be favourable in 2021 and 2022, supported by a lower loss ratio in motor, personal accident and health insurance, states AM Best.
Listing on the stock exchange is one of the solutions to improving the financial and governance capacity of insurance enterprises in the future, according to a proposal of the Ministry of Finance (MoF).
The Ministry of Finance (MoF) aims to implement many solutions to achieve the goal of developing a safe and sustainable insurance market, meeting diverse insurance needs and ensuring social security this year.
The Vietnamese bancassurance market is heating up with a notable exclusive bancassurance agreement signed between LienVietPostBank and Dai-ichi Life Insurance Co of Vietnam (Dai-ichi Life Vietnam).
The 10th annual Regional Day of Service (RDS) was organised by insurer Chubb in early November across 10 markets in the Asia-Pacific region through outreach programmes that focused on meeting the essential needs of communities and increasing educational opportunities for underprivileged children.