Saturday, July 22, 2017

Vietnam

Premiums up 21% in Vietnam

Premiums up 21% in Vietnam

Insurers in the South-East Asian country saw premiums rise 21% in the first half on the back of rising living standards.

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Mirae Asset Life to buy 50% stake in Prevoir Vietnam

Mirae Asset Life to buy 50% stake in Prevoir Vietnam

The deal marks Mirae’s entry into the Vietnamese market, having reportedly outbid a Chinese competitor.

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Samsung Fire & Marine buys 20% of Vietnamese insurer

Samsung Fire & Marine buys 20% of Vietnamese insurer

The Korean insurer will buy the stake in PJICO from Vietnam’s largest petrol dealer for US$23.4m.

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Aviva acquires entire shareholding in Vietnam JV

Aviva acquires entire shareholding in Vietnam JV

The former joint venture with VietinBank is now a wholly owned subsidiary of the British insurer.

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Vietnam simplifies approval of life products

Vietnam simplifies approval of life products

A new regulation means life insurance companies will find it quicker and easier to get product approvals.

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Sun Life inks insurtech deal with Vietnam’s GOFS

Sun Life inks insurtech deal with Vietnam’s GOFS

The Canadian life insurer has forged a three-year partnership with the operator of Vietnam’s first digital bank.

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Aviva appoints CEO for China, Indonesia and Vietnam

Aviva appoints CEO for China, Indonesia and Vietnam

Randy Lianggara, who joined from AXA last year, takes on a newly created role to drive growth in these key markets.

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Vietnam seeks to expand health insurance coverage

Vietnam seeks to expand health insurance coverage

With a growing elderly population, the government aims to bring the country’s insurance coverage to 100% by 2030.

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Vietnam’s life sector posts record-high growth

Vietnam’s life sector posts record-high growth

Total life insurance premiums in the first 10 months of last year grew at 37%, the highest in a decade.

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Insurance initiatives among Apec agenda in Vietnam

Insurance initiatives among Apec agenda in Vietnam

Representatives from 21 economies acknowledged that Asia is among the areas most vulnerable to natural disasters.

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Vietnam’s insurance penetration hits 81.7%

Vietnam’s insurance penetration hits 81.7%

There are now more than 76 million people in the country who are covered by health insurance.

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No hike in Vietnam’s health insurance fees

No hike in Vietnam’s health insurance fees

The ministry has said fees will remain at 4.5% of salaries for public-sector workers or those in full-time employment.

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Hanwha’s Vietnam strategy finally pays off

Hanwha’s Vietnam strategy finally pays off

For the first time since launching in the country, the Korean insurer has posted a profit.

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Future disasters to cost Vietnam $6.7b

Future disasters to cost Vietnam $6.7b

About 60% of the country’s land and 71% of its population are at risk of typhoons, tornadoes and floods.

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Bangkok Insurance looks to re-enter Vietnam

Bangkok Insurance looks to re-enter Vietnam

After pulling out of Vietnam 10 years ago, BKI is studying a possible re-entry into the neighbouring market.

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Prudential announces leadership shuffle

Prudential announces leadership shuffle

Singapore CEO Philip Seah will take on an executive position as senior adviser in Prudential Corporation Asia.

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Vietnam sets social and health insurance targets

Vietnam sets social and health insurance targets

The country is aiming for at least 50% of the population to have social insurance coverage by 2020.

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Vietnamese life market booming

Vietnamese life market booming

Total life insurance premiums reached close to US$1bn for the first half of 2016, according to the Vietnam Insurance Supervisory Authority.

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Alexander Howell, Swiss Re Corporate Solutions

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