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New Market Study: "Non-Life Insurance in Vietnam, Key Trends and Opportunities to 2016"

Fast Market Research recommends "Non-Life Insurance in Vietnam, Key Trends and Opportunities to 2016" from Timetric, now available

 

Boston, MA -- (ReleaseWire) -- 12/05/2012 -- The Vietnamese non-life insurance segment's growth during the review period was supported by the country's robust economic growth, expanding automobile industry, and increasing middle-class population. Vietnam is one of the fastest-growing economies in Southeast Asia, indeed the Vietnamese economy is expected to grow at a faster rate than both India and China over the forecast period. Over the forecast period (2012-2016), the growth of the non-life insurance segment will be driven by the development of the country's automobile, real estate and construction markets. These industries will require innovative non-life insurance products to aid their expansion, creating a larger customer base for non-life insurers. Property insurance was the largest category in the Vietnamese non-life insurance segment in 2011, followed by motor insurance.

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Key Highlights

- Over the forecast period (2012-2016), the growth of the non-life insurance segment will be driven by the development of the country's automobile, real estate and construction markets.
- Vietnam is one of the fastest-growing economies in Southeast Asia, indeed the Vietnamese economy is expected to grow at a faster rate than both India and China over the forecast period.
- Despite the adverse impact of the global economic crisis, Vietnam registered sustained economic growth during the review period.
- Property insurance is the third-largest category in the Vietnamese non-life insurance segment, accounting for a market share of 27.1% of non-life insurance written premium in 2011.
- Traditionally, Vietnamese life insurers relied on a large network of insurance agents. However, during the review period multinational corporations have increasingly recognized bancassurance as an important channel for the distribution of products.

Scope

This report provides a comprehensive analysis of the non-life insurance market in Vietnam:

- It provides historical values for Vietnam's non-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 non-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 non-life insurance products in Vietnam
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Vietnam for the non-life insurance business
- It provides a detailed analysis of the reinsurance market in Vietnam and its growth prospects
- It profiles the top non-life insurance companies in Vietnam and outlines the key regulations affecting them

Companies Mentioned in this Report: PVI Insurance Corporation, BaoMinh Insurance Corporation, Petrolimex Joint-Stock Insurance Company, Post and Telecommunication Insurance Vietnam, BIDV Insurance Corporation, Samsung Vina Insurance Company, MSIG Insurance (Vietnam) Company Limited, Fubon Insurance Vietnam

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