New Financial Services market report from Business Monitor International: "Vietnam Insurance Report Q2 2013"
Boston, MA -- (SBWIRE) -- 05/21/2013 -- The Vietnam Insurance Report considers the prospects for both life and non-life insurers in the country. There was a time when Vietnam was one of the new frontiers of insurance in the Asia Pacific, but the sector has moved into a more exciting phase of its development. Foreign insurance companies (particularly in the life segment) are present, and see Vietnam as a natural extension of their regional or global footprints. In 2012, Sun Life Financial (through a JV with PVI) is a newcomer to the life segment, as is Generali. In the non-life segment, Australia's IAG has taken a strategic stake in AAA, while Talanx has increased its shareholding in PVI. New products are being developed. Agency networks are being built. As in the rest of South East Asia, bancassurance is being seen as an opportunity by some of the players. In the non-life segment, the local companies have generally shown more pricing discipline than have their counterparts elsewhere in the region. Motor insurance - so often a thankless and profitless line in emerging markets - accounts for only about one third of the premiums written in the non-life segment in Vietnam.
View Full Report Details and Table of Contents
Nevertheless, there are reasons for caution. Non-life penetration stopped growing in 2012. The double-digit growth in overall premiums this year has been mainly the result of very strong rises in particular lines. In key areas such as property insurance, premiums in H112 has stagnated at the levels of the previous corresponding period. Although the non-life segment is less fragmented than its peers in other countries in South East Asia, most of the players are sub-scale local firms that do not necessarily have access to the capital that they need to grow.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
- Romania Insurance Report Q2 2013
- United States Insurance Report Q2 2013
- Russia Insurance Report Q2 2013
- Brazil Insurance Report Q2 2013
- Mexico Insurance Report Q2 2013
- Argentina Insurance Report Q2 2013
- Hungary Insurance Report Q2 2013
- Canada Insurance Report Q2 2013
- Czech Republic Insurance Report Q2 2013
- Croatia Insurance Report Q2 2013