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Non-Life Insurance in Vietnam, Key Trends and Opportunities to 2020

  • March 2017
  • 146 pages
  • Timetric
Report ID: 1007314

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Synopsis
Timetric’s 'Non-Life Insurance in Vietnam, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Vietnamese non-life insurance segment, and a comparison of the Vietnamese insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Vietnamese economy and demographics, explains the various types of natural hazard and their impact on the Vietnamese insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Vietnam, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Vietnamese non-life insurance segment, including:
- The Vietnamese non-life segment outlook by product category
- A comprehensive overview of the Vietnamese economy and demographics
- A comparison of the Vietnamese non-life insurance segment with its regional counterparts
- The various distribution channels in the Vietnamese non-life insurance segment
- Detailed analysis of natural hazards and their impact on the Vietnamese insurance industry
- Details of the competitive landscape in the non-life insurance segment in Vietnam
- Details of regulatory policy applicable to the Vietnamese insurance industry

Scope
This report provides a comprehensive analysis of the non-life insurance segment in Vietnam:
- It provides historical values for the Vietnamese non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
- It offers a detailed analysis of the key categories in the Vietnamese non-life insurance segment, and market forecasts to 2020.
- It provides a comparison of the Vietnamese non-life insurance segment with its regional counterparts
- It analyzes the various distribution channels for non-life insurance products in Vietnam.
- It analyzes various natural hazards and their impact on the Vietnamese insurance industry
- It profiles the top non-life insurance companies in Vietnam, and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Vietnamese non-life insurance segment, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Vietnamese non-life insurance segment.
- Assess the competitive dynamics in the non-life insurance segment.
- Identify growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Vietnamese insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The government issued Decree No. 73/2016/ND-CP on implementation and amendments to certain articles of the Law on Insurance Business, effective July 1, 2016.
- In October 2015, the Ministry of Finance (MoF) introduced a decree on compulsory construction insurance for project owners and contractors, effective from February 2016.
- In 2015, the MoF proposed the listing of non-life insurers on the stock exchange, as an effort to increase transparency. Approval from the government was awaited at end of 2016.
- According to the Vietnam Association of Motorcycle Manufacturers (VAMM), the volume of motorcycle sales increased from 2,849,060 units in 2015 to 3,121,023 units in 2016, at an annual growth rate of 9.5%. This provides huge growth potential.
- The Law on Notarization was effective from January 2015. This has made it mandatory for notarial practice organizations to purchase professional liability insurance for their notaries.

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