Vietnamplus

Vietnam remains a key life insurance market in Asia, the Insurance Association of Vietnam told a meeting in Ho Chi Minh City on April 24.

Vietnam’s non-life insurance market has continued to attract foreign investors in the first months of this year.

The life insurance market remains attractive despite slowing down of late, according to the Insurance Association of Vietnam.

State divestment is expected to lure foreign investors into and lift Vietnam’s non-life insurance market.

Prime Minister Nguyen Xuan Phuc wished the Italian life insurance group Generali success in doing business in Vietnam during his reception in Hanoi for the group’s Director General Philippe Donnet.

Non-life insurance premium in 2017 continued its sustained growth, with an estimated revenue of 40.5 trillion VND (1.78 billion USD), representing an 11 per cent year-on-year increase.

Deputy Prime Minister Vuong Dinh Hue has stressed opportunities for AIA Group Limited to invest in Vietnam’s potential life insurance market.

PVI Holdings continued to maintain its top position in the field of non-life insurance with revenue hitting 4.17 trillion VND (187.65 million USD) in the first half of 2016.