Vietnam Insurance Sector Forecast to 2013

With the limited penetration and huge potential, Vietnam offers ample opportunities for international insurers. The Vietnam insurance market is one of the fastest growing insurance markets in the world. This is evident from the fact that while the insurance markets worldwide were facing financial crisis, the Vietnam insurance market was enjoying robust double digit growth. It grew at a CAGR of close to 20% during 2007-2009.

According to our new research report "Vietnam Insurance Sector Forecast to 2013", the non-life insurance sector, which accounts for over half of the insurance market, has witnessed robust growth over the past couple of years. It is expected to grow at a CAGR of around 25% during 2010-2013. Strong demand for motor vehicle insurance products, property and health insurance products are the major factors for the prospective growth.

The life insurance also recorded healthy growth in 2009. In fact, it witnessed an increase in growth rate compared to previous years as more and more people seek insurance cover to protect themselves from different kinds of risks. The life insurance premium grew at a CAGR of around 10% during 2005-2009.

The report provides 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 leading players. Moreover, it has analyzed all the emerging trends including important drivers and key challenges to help investors understand the market conditions.

The report has identified the possible growth areas for the expansion of Vietnam insurance industry. Most importantly, the report has figured out the expected insurance sales of both life and non-life insurance products. The forecast is based on the correlation between past market growth and growth in base drivers, penetration level, rise in living standard, GDP growth and competitive structure and government support.
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1. Analyst View
2. Vietnam - Key Growth Factors
2.1 Economic Stability
2.2 Entry in WTO
2.3 Income Level
2.4 Young Population
3. Market Overview
4. Market Performance and Future Outlook
4.1 By Life Insurance
4.2 By Non-life Insurance
4.2.1 Motor Vehicle
4.2.2 Property and Casualty
4.2.3 Personal Accident and Health
4.2.4 Fire
4.2.5 Cargo and Hull
4.2.6 Aviation
5. Key Distribution Channels
6. Growth Prospects
6.1 Life Insurance
6.2 Energy Price Insurance
6.3 Export Credit Insurance
6.4 Medical Insurance
6.5 Agriculture Insurance
7. Growth Barriers
7.1 Unhealthy Competition
7.2 Weak Regulatory System
7.3 Human Resource Crunch
7.4 Market Concentration
7.5 Widening Gap between Rich and Poor
8. Key Players Profiling
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Figure 2-1: Real GDP Growth (%), 2007-2013
Figure 2-2: Per Head Disposable Income (US$), 2008-2013
Figure 2-3: Population (Million), 2007-2013
Figure 3-1: Insurance Premium (Trillion VND), 2005-2013
Figure 3-2: Share of Life and Non-life Insurance Premium (2009)
Figure 3-3: Insurance Claims Paid (Trillion VND), 2008 & 2009
Figure 4-1: Life Insurance Premium (Trillion VND), 2005-2013
Figure 4-2: Share of Key Insurance Players in Life Insurance Premium (2008)
Figure 4-3: Life Insurance Premium by Business Line (%), 2009
Figure 4-4: Whole Life Insurance Premium (Billion VND), 2005 & 2009
Figure 4-5: Pure Endowment Insurance Premium (Billion VND), 2005 & 2009
Figure 4-6: Term Insurance Premium (Billion VND), 2005 & 2009
Figure 4-7: Endowment Insurance Premium (Billion VND), 2005 & 2009
Figure 4-8: Annuity Insurance Premium (Billion VND), 2005 & 2009
Figure 4-9: Insurance Premium written under Rider (Billion VND), 2005 & 2009
Figure 4-10: Non-life Insurance Premium (Trillion VND), 2005-2013
Figure 4-11: Share of Key Insurance Players in Non-life Insurance Premium (2009)
Figure 4-12: Non-life Insurance Premium by Business Line (%), 2009
Figure 4-13: Motor Insurance Premium (Billion VND), 2005-2013
Figure 4-14: Passenger Cars Registration (‘000 Units), 2009-2013
Figure 4-15: Property and Casualty Insurance Premium (Billion VND), 2005-2013
Figure 4-16: Personal Accident and Health Insurance Premium (Billion VND), 2005-2013
Figure 4-17: Fire Insurance Premium (Billion VND), 2005-2013
Figure 4-18: Cargo, Hull and P&I Insurance Premium (Billion VND), 2005-2013
Figure 4-19: Aviation Insurance Premium (Billion VND), 2005-2013
Figure 5-1: Non-life Insurance Premium Arranged by Insurance Brokers (Billion VND), 2005-2009
Figure 5-2: Non-life Insurance Premium of Brokers by Business Line (%), 2009
Figure 5-3: Number of Insurance Agents (‘000), 2007 & 2009
Figure 6-1: Life Insurance Penetration

Table 3-1: Number of Insurance Companies by Category
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