While mergers and acquisitions in the Vietnamese life insurance sector have been relatively quiet, M&As in the non-life insurance sector have been quite strong, with the participation of both foreign and domestic investors.

The Ministry of Finance will inspect four non-life insurance companies in 2024 to ensure adherence to mandatory motor vehicle insurance regulations.

Vietnam’s domestic insurance market managed to pull through a difficult time in 2023 but it will take time for the market to rebuild trust among consumers, according to policymakers and industry insiders.

The Vietnam Report JSC on June 23 announced the list of the top 10 most prestigious life and non-life insurance companies in Vietnam in 2023.

State capital divestment planning and the removal of limitations on foreign ownership are expected to drive insurance stocks to flourish in 2022.

The insurance sector recorded more than 133.65 trillion VND (5.76 billion USD) in revenue from premiums in 2018, up 23.97 percent from a year earlier, according to the Ministry of Finance’s Insurance Supervisory Authority.