AIA Life has appointed Mr Fisher Zhang as AIA Group regional chief executive for Korea, Mainland China and Vietnam, and chairman and non-executive director of AIA Life in Korea, as well as Mr Nathan Chuang as CEO for three years beginning 4 July 2025, a reappointment.
To increase long-term participation, Vietnam will introduce new social insurance laws from 1 July.
Part of the strategy refresh in QBE Asia has included a renewed emphasis on wholesale markets and a change in the company's leadership in Vietnam, QBE Asia CEO Rob Kosova said.
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.