Insurance industry overview Q2/2021:
Total revenue and profit of insurance businesses in the first half of 2021 both showed significant growth. The most developed sector was Life Insurance with an increase of 30.5% over the same period in 2020. Not only that, most large enterprises announced good growth compared to the same period of 2020. However, in the second half of the year. In 2021, experts believe that businesses will face many difficulties when many economic factors affect the market.
If the current growth momentum is maintained, experts predict that by 2025, 15% of Vietnam’s population will participate in insurance with expected revenue of 3.5% of GDP.
Above is the information compiled from ‘VIETNAM INSURANCE INDUSTRY REPORT Q3/2021’ made by VIRAC. The full report will provide customers with in-depth analysis information on macroeconomics, market reports, market forecasts on Vietnam Insurance Industry in 2021.
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