Overview of Vietnam's insurance market

2019-09-20 10:45:22

In 2019, Vietnam has 65 Insurance companies including 31 non-life insurers, 18 life insurers, 2 re-insurance companies and 14 insurance brokerage companies. Total insurance revenue estimated more than 160,000 billion VND, contributes 2,9% GDP.

Life Insurance

Non-life Insurance

The proportion of Vietnamese that have a life insurance is still low compared to many countries in the region and the world. It shows that this industry still has a great growth potential. The middle class is, and will continue, to grow rapidly (expected to account for 50% of the population by 2035 compared to 11% in 2015). This will be the major stimulus for personal insurance (life, health and motor vehicle insurance).