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Value of gross premiums of non-life insurance sectors in Vietnam 2018

In 2018, gross premiums for automobile insurance in Vietnam amounted to approximately 14.5 trillion Vietnamese dong. In that year, non-life insurance premiums reached about 46.96 trillion Vietnamese dong.

Automobile insurance in Vietnam

For car owners in Vietnam, the civil liability insurance is compulsory. This insurance bears liability for any third party that suffered from damage caused by the insured car. In addition to that, car owners can voluntarily take out a comprehensive car insurance which covers physical damages to the car. In Vietnam, 306.7 thousand vehicles were sold in 2019. According to a survey, 32.44 percent of Vietnamese respondents stated that they owned a car.

Non-life insurance in Vietnam

Non-life gross written premiums amounted to 46.96 trillion Vietnamese dong in 2018. The market leaders, also referred to as the “big 5” of non-life insurance, included Bao Viet, PVI, PTI, Bao Minh and Pjico. Compared to the previous year, credit and financial risk insurance, guarantee insurance, fire and explosion insurance, as well as health insurance had the highest growth rates.

Value of gross premiums of non-life insurance sectors in Vietnam in 2018

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Source

Release date

November 2019

Region

Vietnam

Survey time period

2018

Supplementary notes

One thousand Vietnamese dong equals 0.043 U.S. dollars and 0.040 euros (as of May 2020).

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Statistics on "Insurance in Vietnam"

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