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Vietnam Insurance Market Progress

New figures released this week by the Vietnamese government shows that, despite an economic slowdown, the Southeast Asian country's insurance market grew by 20 percent cumulatively in the first half of the year. The Vietnamese Ministry of Finance's Insurance Supervisory Authority reported that total insurance premiums in the first half of 2011 reached VND17.4 trillion (US$826.8 million). Non-life…

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Vietnam Insurance Industry to Grow

A new report published by worldwide insurance rating and information agency A.M Best Co predicts substantial change will occur within the Vietnamese insurance industry as the country's regulatory framework evolves, allowing the market to open up further for foreign companies to share their capital and technical expertise. In the special report, titled "Vietnam's Insurance Market Awakening to Further…

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Manulife to Expand Microinsurance in Vietnam

Manulife Financial Corp, Canada's largest insurance company, plans to increase sales of its insurance policies for low-income customers in Vietnam by expanding its microinsurance operations into more regions of the Southeast Asian country. Microinsurance products provide basic, inexpensive insurance coverage to individuals on low incomes who require protection for typical risks including the affects…

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Korean insurers going global, introducing domestic earthquake coverage.

South Korea currently boasts one of the ten largest insurance markets in the world with a particularly high-penetration rate in regards to life insurance. While the country's insurance sector is made available to foreign multinationals, both the life and non-life segments continue to be dominated by large domestic companies. In order to maintain their growth, Korean insurance firms are now looking…

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Vietnamese Insurance Market To Be Driven Up by Non-Life Segment

A research report entitled "Vietnam Insurance Sector Forecast to 2013" by RNCOS, an India-based market research and information analysis company, predicts that the growth in the insurance market in Vietnam will continue being dominated by the non-life insurance segment, which currently accounts for more than 50 percent of the insurance market. The report projects a Compound Annual Growth Rate (CAGR) of around 25 percent between the years 2010 and 2013.

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