Business

Insurance companies maintain financial safety

Forty-three of the country's forty-five insurance companies ensured financial safety in 2014, according to a report by the Ministry of Finance (MoF) reviewing insurance market restructuring over the past year.
Business

Non-life insurance hits double-digit growth

Non-life insurance premiums managed to return to a double-digit growth in the first eight months of 2014, according to preliminary reports of non-life insurance companies to the Insurance Supervisory Authority.
Business

2014 insurance market hopes for booming growth

The domestic insurance market is expected to fare well this year, fuelled by economic recovery trend and the sector’s remarkable growth rate of 14 percent recorded in 2013, according to economists.
ASEAN to develop insurance market ASEAN

ASEAN to develop insurance market

Despite global economic crisis, the insurance market continues to post a rapid growth in ASEAN countries and new emerging economies.
World

RoK insurer expands cooperation in Indonesia

Hanwha Life Insurance has become the first insurer of the Republic of Korea to invest in the Indonesian market after purchasing a 80 percent stake worth 130 billion Rp (11.9 million USD) in local Multicorlife Insurance in December last year.
Business

Premium growth slumps in first half

The insurance market experienced a lower rate of growth in the first half of this year, mainly due to economic difficulties, according to Trinh Thanh Hoan, Director of the Ministry of Finance's Insurance Supervisory Authority (ISA).
Vietnam welcomes Swiss insurer Politics

Vietnam welcomes Swiss insurer

Deputy Prime Minister Vu Van Ninh said Vietnam welcomed such a prestigious insurer as Swiss Re to the country, as he received Swiss Re Chairman Global Partnership Martyn Parker in Hanoi on March 19.
Business

Bao Viet leads non-life insurance market

The leading non-life insurer remains Bao Viet insurance corporation with premiums of 5.4 trillion VND (260 million USD), according for 23.8 percent of the market share.
Sumitomo Life acquires 18% stake in BaoViet Holdings Business

Sumitomo Life acquires 18% stake in BaoViet Holdings

Japanese insurer Sumitomo Life purchased HSBC Insurance’s 18 percent stake in BaoViet Holdings for about 7 trillion VND (340 million USD on Dec. 20, to become the new strategic investor of the largest insurance company in Vietnam.
Business

Insurance premiums to total 2.2b USD in 2012

The insurance market will continue to expand this year, with total premiums expected to reach 46 trillion VND (2.2 billion USD), up 24 percent from last year, says a recent report from A.M. Best, a credit rating agency covering the insurance industry.