Vietnam has affirmed the private sector as the most crucial engine of the national economy, opening up opportunities for the insurance market among several industry sectors.
Taiwanese life insurer Shin Kong Life has signed a strategic cooperation agreement with Hong Kong-based technology firm AIFT to transform Vietnam's digital insurance market.
Hanoi's Social Insurance Region I has announced that under the Social Insurance Law 2024, set to take effect on 1 July 2025, new eligibility conditions will apply for pension benefits for those enrolled in voluntary social insurance.
Aon and Moody's Insurance Solutions have announced the expansion of their reinsurance casualty collaboration into commercial risk.
Called Pru-Bao ve toi da, this universal life insurance product offers protection up to 80 times the annualised target premium, along with guaranteed interest rates, flexible plan options, and bonus incentives aimed at long-term financial planning.
The number of new contracts within the Vietnamese life insurance industry saw a 4.3% y-o-y growth in the first quarter of the year, according to the Insurance Association of Vietnam's vice secretary general Ngo Trung Dung.
Vietnam National Reinsurance Corporation (VINARE) has posted a strong operating performance, supported by its five-year average return-on-equity ratio of 10.6% (2020-2024), notes AM Best.
According to Prudential, in 1Q2025, new business profit on a traditional embedded value went up 12% to $608m, annual premium equivalent (APE) sales went up 4% to $1.7bn and new the new business margin increased by two percentage points.
According to the revised law on health insurance, from 1 July 2025, patients will be paid 100% of the benefits when having an initial health check-up nationwide, regardless of administrative boundaries by province.
Sun Life, in partnership with global sport for social change foundation Beyond Sport, has announced the extension of its "Hoops + Health" philanthropy programme for the second year, with the goal of helping 45,000 young people get active by the end of 2025 by providing safe spaces, coaching programmes and equipment in underprivileged communities.