Market Research Logo

Non-Life Insurance in Vietnam, Key Trends and Opportunities to 2020

Non-Life Insurance in Vietnam, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Non-Life Insurance in Vietnam, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Vietnamese non-life insurance segment, and a comparison of the Vietnamese insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Vietnamese economy and demographics, explains the various types of natural hazard and their impact on the Vietnamese insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in Vietnam, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Vietnamese non-life insurance segment, including:

  • The Vietnamese non-life segment outlook by product category
  • A comprehensive overview of the Vietnamese economy and demographics
  • A comparison of the Vietnamese non-life insurance segment with its regional counterparts
  • The various distribution channels in the Vietnamese non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Vietnamese insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Vietnam
  • Details of regulatory policy applicable to the Vietnamese insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Vietnam:
  • It provides historical values for the Vietnamese non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Vietnamese non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Vietnamese non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Vietnam.
  • It analyzes various natural hazards and their impact on the Vietnamese insurance industry
  • It profiles the top non-life insurance companies in Vietnam, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Vietnamese non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Vietnamese non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Vietnamese insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The government issued Decree No. 73/2016/ND-CP on implementation and amendments to certain articles of the Law on Insurance Business, effective July 1, 2016.
  • In October 2015, the Ministry of Finance (MoF) introduced a decree on compulsory construction insurance for project owners and contractors, effective from February 2016.
  • In 2015, the MoF proposed the listing of non-life insurers on the stock exchange, as an effort to increase transparency. Approval from the government was awaited at end of 2016.
  • According to the Vietnam Association of Motorcycle Manufacturers (VAMM), the volume of motorcycle sales increased from 2,849,060 units in 2015 to 3,121,023 units in 2016, at an annual growth rate of 9.5%. This provides huge growth potential.
  • The Law on Notarization was effective from January 2015. This has made it mandatory for notarial practice organizations to purchase professional liability insurance for their notaries.


  • Key Facts and Highlights
    • Table Vietnamese Non-Life Insurance - Key Facts, 2015
    • Table Vietnamese Non-Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Vietnamese Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Vietnamese Non-Life Insurance - Gross Written Premium (VND Trillion and US$ Million), 2011-2015
        • Table Vietnamese Non-Life Insurance - Penetration (%), 2011-2015
        • Table Vietnamese Non-Life Insurance - Gross Written Premium (VND Trillion and US$ Million), 2015-2020
        • Table Vietnamese Non-Life Insurance - Penetration (%), 2015-2020
        • Table Vietnamese Non-Life Insurance - Premium per Capita (VND and US$), 2011-2015
        • Table Vietnamese Non-Life Insurance - Premium per Capita (VND and US$), 2015-2020
      • Claims
        • Table Vietnamese Non-Life Insurance - Paid Claims (VND Trillion and US$ Million), 2011-2015
        • Table Vietnamese Non-Life Insurance - Paid Claims (VND Trillion and US$ Million), 2015-2020
      • Profitability
        • Table Vietnamese Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Vietnamese Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Vietnamese Non-Life Insurance - Total Assets (VND Trillion and US$ Billion), 2011-2015
        • Table Vietnamese Non-Life Insurance - Total Assets (VND Trillion and US$ Billion), 2015-2020
        • Table Vietnamese Non-Life Insurance - Total Investment Income (VND Trillion and US$ million), 2011-2015
        • Table Vietnamese Non-Life Insurance - Total Investment Income (VND Trillion and US$ million), 2015-2020
        • Table Vietnamese Non-Life Insurance - Investment Portfolio (VND Billion), 2011-2015
        • Table Vietnamese Non-Life Insurance - Investment Portfolio (VND Billion), 2015-2020
  • Outlook by Category
    • Table Vietnamese Non-Life Insurance - Direct Written Premium by Category (VND Billion), 2011-2015
    • Table Vietnamese Non-Life Insurance - Direct Written Premium by Category (VND Billion), 2015-2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Vietnamese Property Insurance - Direct Written Premium by Sub-Category (VND Billion), 2011-2015
        • Table Vietnamese Property Insurance - Direct Written Premium by Sub-Category (VND Billion), 2015-2020
      • Claims
        • Table Vietnamese Property Insurance - Paid Claims (VND Billion and US$ Million), 2011-2015
        • Table Vietnamese Property Insurance - Paid Claims (VND Trillion and US$ Million), 2015-2020
      • Profitability
        • Table Vietnamese Property Insurance - Loss Ratio (%), 2011-2015
        • Table Vietnamese Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
      • Premium
        • Table Vietnamese Motor Insurance - Direct Written Premium (VND Trillion and US$ Million), 2011-2015
        • Table Vietnamese Motor Insurance - Direct Written Premium (VND Trillion and US$ Million), 2015-2020
      • Claims
        • Table Vietnamese Motor Insurance - Paid Claims (VND Trillion and US$ Million), 2011-2015
        • Table Vietnamese Motor Insurance - Paid Claims (VND Trillion and US$ Million), 2015-2020
      • Profitability
        • Table Vietnamese Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Vietnamese Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Vietnamese Liability Insurance - Direct Written Premium by Sub-Category (VND Billion and US$ Million), 2011-2015
        • Table Vietnamese Liability Insurance - Direct Written Premium by Sub-Category (VND Billion and US$ Million), 2015-2020
      • Claims
        • Table Vietnamese Liability Insurance - Paid Claims (VND Billion and US$ Million), 2011-2015
        • Table Vietnamese Liability Insurance - Paid Claims (VND Billion and US$ Million), 2015-2020
      • Profitability
        • Table Vietnamese Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Vietnamese Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
      • Premium
        • Table Vietnamese Marine, Aviation and Transit Insurance - Direct Written Premium (VND Billion), 2011-2015
        • Table Vietnamese Marine, Aviation and Transit Insurance - Direct Written Premium (VND Billion), 2015-2020
      • Claims
        • Table Vietnamese Marine, Aviation and Transit Insurance - Paid Claims (VND Billion and US$ Million), 2011-2015
        • Table Vietnamese Marine, Aviation and Transit Insurance - Paid Claims (VND Billion and US$ Million), 2015-2020
      • Profitability
        • Table Vietnamese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Vietnamese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Agencies
      • Bancassurance
      • Brokers
      • E-commerce
  • Natural and Man-Made Hazards
    • Flooding
    • Storms/Typhoons
    • Landslides
    • Others
    • Exposure
  • Competitive Landscape
    • Table Vietnamese Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • PetroVietnam Insurance Corporation - company overview
        • Table PetroVietnam Insurance Corporation - Key Facts
        • Table PetroVietnam Insurance Corporation - Key Financials (VND Trillion), 2011-2015
      • Bao Viet General Insurance Corporation - company overview
        • Table Bao Viet General Insurance Corporation - Key Facts
        • Table Bao Viet General Insurance Corporation - Key Financials (VND Trillion), 2011-2015
      • Bao Minh Insurance Corporation - company overview
        • Table Bao Minh Insurance Corporation - Key Facts
        • Table Bao Minh Insurance Corporation - Key Financials (VND Trillion), 2011-2015
      • Post and Telecommunication Joint Stock Insurance Company - company overview
        • Table Post and Telecommunication Joint Stock Insurance Company - Key Facts
        • Table Post and Telecommunication Joint Stock Insurance Company - Key Financials (VND VND Trillion), 2011-2015
      • Pjico Insurance Corporation - company overview
        • Table Pjico Insurance Corporation - Key Facts
        • Table Pjico Insurance Corporation - Key Financials (VND Trillion), 2011-2015
  • Governance, Risk and Compliance
    • Table Vietnam - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Table Vietnam - Insurance Agent Commission Rate
      • Life insurance
        • Table Vietnam - Life Insurance Regulatory Framework
      • Property insurance
        • Table Vietnam - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Vietnam- Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Vietnam - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
        • Table Vietnam - Tariff Rates for Motor Third-Party Liability Insurance
      • Aviation liability insurance
      • Fire and explosion insurance for high risk establishments
      • Social insurance
      • Construction insurance
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • Ministry of Finance
      • Insurance Supervisory Authority
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
        • Table Vietnam - Minimum Capital Requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Vietnam - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Vietnamese Insurance Industry - Policies and Premium, 2011-2015
      • Table Vietnamese Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Vietnamese Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Vietnamese Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Vietnamese Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Vietnamese Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table Vietnamese Non-Life Insurance - Property Insurance, 2011-2015
      • Table Vietnamese Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Vietnamese Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Vietnamese Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Vietnamese Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Vietnamese Non-Life Insurance - Motor Insurance, 2015-2020
    • Liability Insurance
      • Table Vietnamese Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Vietnamese Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Vietnamese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Vietnamese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report