Vietnam Insurance Market Set To Post Robust Growth
With limited insurance penetration and huge potential, the Vietnam insurance market is expected to grow at a CAGR of over 18% during 2009-2013.
- (1888PressRelease) July 02, 2010 - As per our new research report "Vietnam Insurance Sector Forecast to 2013", with limited penetration and huge potential, Vietnam offers ample opportunities for international insurers. The Vietnam insurance market is in fact one of the fastest growing insurance markets in the world. This is evident from the fact that while the world insurance markets were facing financial crisis, the insurance market in Vietnam was enjoying robust double digit growth. Moreover, it is expected to grow at a CAGR of over 18% during 2009-2013.
Both life insurance and non-life insurance are expected to register robust growth during the forecast period. The non-life insurance sector, which accounts for over half of the insurance market, witnessed robust growth over the past couple of year. Further, it is expected to grow at CAGR of around 24% during 2009-2013. The life insurance also witnessed healthy growth in 2009. In fact, it reported substantial increase in growth rate compared to previous years as more and more people buying insurance cover.
"Vietnam Insurance Sector Forecast to 2013" provides extensive research and objective analysis of the growing insurance industry in Vietnam, its structure and demand potential. The report has also identified the important players operating in the sector. The key players section talks about business profiles 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 also identified the possible growth areas for expansion in the insurance industry. Most importantly, the report has figured out the expected sales of both life insurance and non-life insurance segments, including their sub-segments like health, motor, fire etc. The forecast is not based on complex economic model, but is the correlation between past market growth and growth in base drivers, penetration level, rising living standard, GDP growth and competitive structure and government support.
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