Industrial Report: Life Insurance In Vietnam 2017 : Now at

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The report provides in depth market analysis, information and insights into the Vietnamese life insurance segment, including:

  • The Vietnamese life insurance segment’s growth prospects by life insurance categories
  • Key trends and drivers for the life insurance segment
  • The various distribution channels in the Vietnamese life insurance segment
  • Detailed competitive landscape in the life insurance segment in Vietnam
  • Detailed regulatory framework of the Vietnamese insurance industry
  • A description of the life reinsurance segment in Vietnam
  • Porter's Five Forces Analysis of the life insurance segment
  • Benchmarking section on the Vietnamese life insurance segment in comparison to other countries in the South-East Asian region

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Executive summary

The Vietnamese life insurance segment recorded growth during the review period at a compound annual growth rate (CAGR) of 15.6% during the review period (2008–2012), supported by the country’s strong economic environment and an increase in consumer awareness regarding the benefits of insurance. Endowment policies accounted for the majority of life insurance policies sold during the period, with such polices measuring 66.5% of the segment’s written premiums in 2012. Individual life insurance products accounted for a share of 25.1% and supplementary insurance products accounted for 6.2%. The life segment is expected to continue to expand over the forecast period and be driven by the country’s economic growth, increasing annual disposable income levels, and expanding middle-class population.


This report provides a comprehensive analysis of the life insurance segment in Vietnam:

  • It provides historical values for the Vietnamese life insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
  • It offers a detailed analysis of the key sub-segments in the Vietnamese life insurance segment, along with market forecasts until 2017
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
  • It analyses the various distribution channels for life insurance products in Vietnam
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Vietnam for the life insurance business


Reasons to buy

  • Make strategic business decisions using in depth historic and forecast market data related to the Vietnamese life insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Vietnamese life insurance segment
  • Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Vietnamese insurance industry and its impact on companies and the market's future

Key highlights

  • The life segment recorded healthy growth during the review period, with premiums maintaining growth even during the financial crisis
  • Endowment products and individual life products dominated the life segment in 2012, with the former accounting for 66.5% of segment premiums and the latter accounting for 25.1%
  • The combined market share of the three leading Vietnamese life insurers – Prudential, Bao Viet and Manulife – remained high at 71.3% in 2012
  • More foreign insurers are expected to enter the Vietnamese insurance industry over the forecast period, encouraged by the country’s strong growth prospects, the increasing size of its population and improving living standards
  • Vietnamese life insurers are focusing on new product innovations

Table of contents


  •  What is this Report About?
  •  Definitions
  •  Methodology

Regional Market Dynamics

  •  Overview
  •  Market Trends
  •  Market Size

Life Insurance – Regional Benchmarking

  •  Scale and Penetration
  •  Total segment gross written premium
  •  Premium per capita
  •  Life insurance penetration as a percentage of GDP
  •  Growth
  •  Gross written premium

Vietnamese Insurance Industry Attractiveness

  •  Insurance Industry Size, 2008–2017
  •  Key Industry Trends and Drivers

Life Insurance Outlook

  •  Life Insurance Growth Prospects by Category
  •  Individual life insurance
  •  Individual general annuity
  •  Individual endowment
  •  Individual unit-linked insurance
  •  Individual term life insurance
  •  Individual supplementary

 Analysis by Distribution Channel

  •  Bancassurance
  •  Agencies
  •  Brokers

 Porter’s Five Forces Analysis – Vietnamese Life Insurance

  •  Bargaining Power of Supplier: Medium to High
  •  Bargaining Power of Buyer: Medium to high
  •  Barriers to Entry: Low to Medium
  •  Intensity of Rivalry: High
  •  Threat of Substitutes: Medium

Reinsurance Growth Dynamics and Challenges

  •  Reinsurance segment size, 2008–2017
  •  Reinsurance segment size by type of insurance, 2008–2017

Governance, Risk and Compliance

  •  Legislation and Market Practice by Type of Insurance
  •  Life insurance
  •  Property insurance
  •  Motor insurance
  •  Marine, aviation and transit insurance

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