With limited insurance penetration and huge growth potential, Vietnam insurance sector offers ample opportunities for international insurers. Vietnam insurance market is one of the fastest growing insurance markets in the world. The country’s insurance market has been witnessing a double digit growth for the past few years and it is expected to witness the same growth trend in the coming years also. Thus, Vietnam insurance market is expected to grow at a CAGR of around 22% during 2011-2014.
According to our new research report “Vietnam Insurance Sector Forecast to 2014”, the non-life insurance sector, which accounts for over half of the insurance market, has witnessed a robust growth during the past few years. Strong demand for motor vehicle insurance products, property, and health insurance products are the major factors responsible for the prospective growth. Moreover, it is expected that, the non-life insurance will enlarge its share in the total insurance market in coming years.
As per our findings, the life insurance sector also recorded healthy growth during 2010. Maximum of this growth was due to the expansion of the middle class and the country’s rising economic growth. In fact, it witnessed an increase in growth rate compared to the previous years as more and more people are seeking insurance cover to protect themselves from risk.
Our report “Vietnam Insurance Sector Forecast to 2014”, provides an extensive research and objective analysis of the growing Vietnam insurance industry, its structure, and demand potential. The report has identified important players operating in the sector. The key players section talks about business profiling of all the leading players. Moreover, it has analyzed all the emerging trends including important drivers to help investors understand the market conditions. Besides, the report has identified the possible growth areas for the expansion of the Vietnamese insurance industry.
Most importantly, the report has figured out the expected insurance sales of both life and non-life insurance products. In this way, the report presents a complete and coherent analysis of the Vietnam Insurance industry, which will prove decisive for the clients.