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Insurance and progress in policy

In addition to the enhancement in management, supervisory activities and boosting insurance enterprises to do restructuring, in 2015, the Ministry of Finance has issued many policies, frameworks in insurance business, facilitating the development of this market. Big progress in...

Public property insurance

On July 18th 2015, in Hue, Insurance Supervisory Authority – Ministry of Finance has cooperated with Public property Management Department to organize Seminar on “Public property insurance: Mobilizing resources from insurance market to contribute to protection of State finance and...

Non-life insurance industry: Still in difficult time

After three years of continuous decrease, direct premium volume growth rate has started to show signs of recovery in 2014. This is thanks to economic recovery and efforts of non-life insurance enterprises in restructuring during the difficult time. However,...

Optimistic outlook for insurance industry in 2015

According to Association of Vietnamese Insurers, GDP growth in 2014 was 5.98%. Inflation was at 1.84%, new FDI and additional growth was at USD20 million, in which FDI disbursed was at USD12.35 billion. Export turnover was at USD150 billion...

Insurance industry with fragile growth of 10%

Although non-life insurance market has get back to double-digit growth after relatively quiet 2013 with improvement in terms of financial strength, corporate governance, customer service quality of member companies, it is still messy with many problems to be solved...

10 Marking events of Vietnamese insurance industry in 2014

1. For the first time, Ministry of Finance organized a dialogue between Ministry of Finance, Association of Vietnamese Insurers, Life insurers, Non-life insurers and brokers at the 2013 Insurance Industry Review Conference on 28th February 2014. Ministry of Finance continued...

Launching ceremony of Policyholder protection fund

On September 9th 2014, at the Ministry of Finance, Policyholder protection fund was officially launched  and put into operations. The purpose of establishment of Policyholder protection fund is to strengthen financial safety, enhance corporate governance quality, and meet business operation...

Agriculture Insurance: Loss … but still need to continue the pilot scheme

Deputy Prime Minister Vu Van Ninh has officially made a statement on the pilot agriculture insurance according to Decision 315 of the Prime Minister. According to reports on results of pilot agriculture insurance, provinces and farmers want to continue...

Challenges in new insurance business segments

It is getting more and more difficult to to increase premium income from traditional business lines, therefore, non-life insurers are expanding their “playground” to new insurance business segments. Export credit insurance, agriculture insurance, guarantee insurance, liability insurance, directors and...

Insurance industry proves to be much-needed protection against newly arising losses

Public demonstration in Binh Duong province On May 13th and May 14th, there were some public gatherings to protest China’s oil rig movement into Vietnam’s territorial waters. Some hooligans took advantage of this situation and created disorder, damaged, set fire...

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