Insurance companies and banks are looking for more guidance from the industry regulator on bancassurance operations following the issuance of new regulations.
Commercial banks can continue to sell investment-linked insurance products through the bancassurance channel.
Pan-Asian life insurer FWD was ranked number six in the 2024 Million Dollar Round Table (MDRT) top 10 multinational companies rankings, for the third consecutive year.
Vietnam government and state-owned enterprises plan to divest some of their shareholdings in the country's two biggest insurers, namely, Baoviet Holdings (BVH) and PVI Holdings.
Several non-life insurance companies in Vietnam have reported profit increases of over 40% in the first quarter of 2024.
Global credit rating agency AM Best says that it expects Vietnam National Reinsurance Corporation (VINARE) to continue delivering strong operating performance, supported by favourable underwriting performance and robust investment income.
In 2022, the Law on Insurance Businesses No 08/2022/QH15 came into effect, following the commitment agreed upon in the EU-Vietnam Free Trade Agreement in 2020, according to the Insurance Supervisory Authority (ISA) of Vietnam.
Vietnam's total insurance premium revenue in the first quarter of 2024 continued to decrease, falling for the fourth consecutive quarter, according to data from the General Statistics Office.
Saline intrusion and drought in the Mekong Delta region of Vietnam could cause $2.82bn in agricultural losses over a 10-year period according to a recent survey.
PVI Insurance Corporation (PVI Insurance), Vietnam's biggest general insurer, has strong operating performance, supported by its five-year average return-on-equity ratio of 17.9% (2019-2023), according to AM Best.