It is critical to improve the quality of insurance agents and consultants to consolidate trust of insurance buyers and bring the life insurance market back on track, experts have said.
The non-life insurance sector has seen a flurry of merger and acquisition (M&A) deals over the past two years, partly reflecting the attractiveness and keen competition of the market, which still has room for growth.
Accelerating the digital transformation process not only helps insurance businesses transform during the COVID-19 pandemic but also is considered the foundation for growth in the economic recovery.
Over the past year, the economic situation has changed a lot due to the pandemic, which has affected non-life insurance revenue, but many businesses still achieved high profits.
The Vietnam Report Joint Stock Company on July 9 announced Vietnam's top 10 prestigious life and non-life insurance companies in Vietnam in 2021 as well as assessments on the Vietnamese insurance market.
The insurance industry is forecast to continue gaining double-digit growth this year thanks to new bancassurance contracts signed late last year and the recovery of the economy.
Banks are pushing the sale of life insurance products (bancassurance) in the context of low credit growth since the beginning of this year due to the impacts of the COVID-19 pandemic.
Insurer FWD Group confirmed on November 12 its purchase of Vietcombank-Cardif Life Insurance (VCLI), an unit of Vietnam’s largest listed lender by market value, Vietcombank.
Japanese-based Dai-ichi Life Insurance company has channeled 5.4 billion JPY (50 million USD) into infrastructure development projects in the Mekong region, including Vietnam, Cambodia, and Myanmar.
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