Business Monitor International (BMI) estimated that total premiums in 2014 in Vietnam would increase to over 58.451trillion VND, including non-life premiums of more than 27 trillion VND and life premiums of 31.002 trillion VND.
BMI's Vietnam Insurance Report in the second quarter of this year, posted on website www.researchandmarkets.com, wrote that in 2009 the corresponding figures were more than 24.610,383 trillion VND, 13.500 trillion VND and 11.110 trillion VND.
The BMI expects non-life penetration to rise from 0.83 percent in 2009 to 1.01 percent in 2014, and for life density to increase from 7.10 USD per capita to 17.57 USD.
BMI's Insurance Business Environment Rating for Vietnam is 44.2.
This quarter BMI's report includes a regional review that looks at the actual and forecast growth rates for premiums across both major segments. Last year, the impact of the global financial crisis was much greater in the Republic of Korea , Australia, Singapore and Hong Kong.
For the time being, BMI continues to expect that the most rapid growth will take place in countries such as Vietnam and the Philippines where organised savings are at an embryonic state of development.
According to the BMI, in the first quarter of this year, the three largest non-life companies, in terms of gross written premiums, were Bao Viet, PVI and Bao Minh, whose market shares were 42 percent, 12 percent and 12 percent, respectively.
In the life segment, the leaders were Prudential, Bao Viet and Manulife, with market shares of 40 percent, 33 percent and 10 percent, respectively./.
BMI's Vietnam Insurance Report in the second quarter of this year, posted on website www.researchandmarkets.com, wrote that in 2009 the corresponding figures were more than 24.610,383 trillion VND, 13.500 trillion VND and 11.110 trillion VND.
The BMI expects non-life penetration to rise from 0.83 percent in 2009 to 1.01 percent in 2014, and for life density to increase from 7.10 USD per capita to 17.57 USD.
BMI's Insurance Business Environment Rating for Vietnam is 44.2.
This quarter BMI's report includes a regional review that looks at the actual and forecast growth rates for premiums across both major segments. Last year, the impact of the global financial crisis was much greater in the Republic of Korea , Australia, Singapore and Hong Kong.
For the time being, BMI continues to expect that the most rapid growth will take place in countries such as Vietnam and the Philippines where organised savings are at an embryonic state of development.
According to the BMI, in the first quarter of this year, the three largest non-life companies, in terms of gross written premiums, were Bao Viet, PVI and Bao Minh, whose market shares were 42 percent, 12 percent and 12 percent, respectively.
In the life segment, the leaders were Prudential, Bao Viet and Manulife, with market shares of 40 percent, 33 percent and 10 percent, respectively./.
