View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 9, 2011updated 13 Apr 2017 8:50am

Vietnam records solid premium growth in 2010

Building on its record of solid growth, Vietnams insurance market saw premium income increase by 20.3% in 2010 to VND30.69tn ($1.57bn), according to the Vietnam Business Forum

By LII editorial

Building on its record of solid growth, Vietnam’s insurance market saw premium income increase by 20.3% in 2010 to VND30.69tn ($1.57bn), according to the Vietnam Business Forum.

The strongest growth pace was recorded by the general insurance sector which increased premium income by 24% in 2010 to VND13.69tn. Life insurance premium income was reported at VND17tn, an increase of 16% compared with 2009 when an almost identical increase of 15.9% was recorded.

According to consultancy Towers Watson, UK insurer Prudential’s subsidiary Prudential Vietnam ranked as the leading life insurer in the nine months of 2010 with a market share of 32%. It was followed by state-controlled Bao Viet Life with a market share of 25%.

12 life insurers are active in Vietnam, with the latest entry being Italian insurer Generali. Bao Viet Life is the only truly Vietnamese-controlled life insurer.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International