Tag: insurance

Vietnam’s insurance industry has grown rapidly in recent years. As incomes have risen and Vietnam’s middle class has begun to accumulate valuable assets, the need for insurance has become readily apparent. This rapid rise of insurance products in Vietnam, is also partially attributable to several types of insurance being compulsory by law. This includes for motor vehicle owners and businesses in the construction sector.

Life insurance in Vietnam has experienced significant growth and transformation over the past decade, driven by an expanding middle class and increasing awareness of financial planning and risk protection. The life insurance market in Vietnam is diverse, with a range of products offered by both local and international insurers.

Auto-insurance in Vietnam includes compulsory civil liability insurance and optional coverages such as physical damage and personal accident insurance. Compulsory insurance is mandated by law and covers third-party injuries and property damage caused by the insured vehicle. Optional products provide additional protection against risks like theft, natural disasters, and accidents involving the insured vehicle. The motor insurance market is growing, driven by increased vehicle ownership and regulatory enforcement, with leading providers offering a range of products.