Life Insurance & Pension in Vietnam
SummaryLife Insurance & Pension in Vietnam industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The Vietnamese life insurance & pension market recorded gross written premiums of $6.6 billion in 2023, representing a compound annual growth rate (CAGR) of 11.5% between 2018 and 2023.
- The life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $6.5 billion, equivalent to 99.7% of the market's overall value.
- Vietnam held a share of 0.6% of the total Asia-Pacific life insurance & pension market share in 2023. In 2023, there was a noticeable shift in consumer preferences, with many individuals opting for more flexible investment products rather than traditional life insurance policies. The demand for unit-linked and investment-linked products increased, while traditional life cover declined.
Scope
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the life insurance & pension market in Vietnam
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Vietnam
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Vietnam life insurance & pension market with five year forecasts by both value and volume
Reasons To Buy
- What was the size of the Vietnam life insurance & pension market by value in 2023?
- What will be the size of the Vietnam life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Vietnam life insurance & pension market?
- How has the market performed over the last five years?
- Who are the top competitors in Vietnam's life insurance & pension market?
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