Vietnam Insurance Report Q2 2018
Vietnam's/Insurance/Q2 2018 industry remains under-developed for a country of its size, with total premiums comprising onlyaround 2% of overall GDP at present. Widespread poverty and low household incomes have traditionally limited the affordability ofinsurance products. As one of Asia's fastest-growing economies, we believe there is potential for rapid growth across most lines overthe next few years. In the personal/Insurance/Q2 2018 segment, increasing car ownership will support higher demand for motor/Insurance/Q2 2018products, while fast growth in private healthcare usage will drive wealthier households to purchase health and personal accidentinsurance products. Meanwhile, we are also looking for life insurers to profit from growing demand for savings and investmentproducts. Against this backdrop we expect the opportunities available to international providers and investors to be significant overthe coming years, particularly as the government relaxes its stance towards foreign investors. The fragmented nature of the marketat present will also provide scope for mergers and acquisitions.
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