2012-10-10 10:01:56 - New Financial Services research report from Timetric is now available from Fast Market Research
The Vietnamese life insurance segment has recorded significant growth since 2000, growth that was supported by the country's strong macroeconomic and microeconomic fundamentals, as well as an increase in consumer awareness regarding the benefits of insurance products. As a result of these factors, the country's life insurance segment registered a strong compound annual growth rate (CAGR) of 14.3% during the review period (2007-2011). Over the same timeframe, the majority of life insurance policies sold in Vietnam were endowment policies, with such polices accounting for a 70.9% share of the segment's total written premiums in 2011. Meanwhile, individual life insurance products accounted for a 22% share, and supplementary insurance products accounted for a 5.1% share. The life insurance segment is expected
to continue to expand over the forecast period, driven by the country's economic growth, increasing annual disposable income levels, and expanding middle-class population.
Full Report Details at
- www.fastmr.com/prod/468302_life_insurance_in_vietnam_key_trends_ ..
* The life insurance segment is expected to expand during the forecast period, due to the country's growing economy, increasing annual disposable income levels and the expanding middle-class population.
* The majority of life insurance policies sold in Vietnam were endowment policies, which accounted for a 70.9% share of the total written premium in 2011.
* The Vietnamese life insurance segment is widely considered to be an emerging market with greater potential for further growth than the life insurance segments of other Asian countries, such as China and India.
* In 2011, there was one domestic and eleven foreign life insurers operating in Vietnam, with the country's foreign life insurers accounting for approximately two thirds of the country's total life insurance written premiums.
* With the entry of multinational insurers into the country during the review period, life insurance companies are increasingly recognizing bancassurance's potential to be an important distribution channel and to help increase the penetration of insurance products in the country.
This report provides a comprehensive analysis of the life insurance market in Vietnam:
* It provides historical values for Vietnam's life insurance market for the report's 2007-2011 review period and forecast figures for the 2012-2016 forecast period
* It offers a detailed analysis of the key sub-segments in Vietnam's life insurance market, along with market forecasts until 2016
* 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
* It provides a detailed analysis of the reinsurance market in Vietnam and its growth prospects
* It profiles the top life insurance companies in Vietnam and outlines the key regulations affecting them
Reasons to Purchase
* Make strategic business decisions using historic and forecast market data related to the Vietnamese life insurance market and each sector within it
* Understand the demand-side dynamics, key market trends and growth opportunities within the Vietnamese life insurance market
* Assess the competitive dynamics in the life insurance market, 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 market and its impact on companies and the market's future
Companies Mentioned in this Report: Prudential Vietnam Assurance Private Limited, Manulife (Vietnam) Limited, AIA (Vietnam) Life Insurance Co. Ltd, Dai-ichi Life Insurance Company of Vietnam Limited, Cathay Life Insurance Co. Ltd (Vietnam), PVI Insurance Corporation, Korea Life Insurance (Vietnam)
Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. They provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. View more research from Timetric at www.fastmr.com/catalog/publishers.aspx?pubid=1037
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