The list of the top 10 most prestigious life and non-life insurance companies in Vietnam in 2023(Photo: //markettimes.vn/)
Hanoi (VNA) - The Vietnam Report JSCon June 23 announced the list of the top 10 most prestigious life and non-lifeinsurance companies in Vietnam in 2023.
The 10 most prestigious lifeinsurance companies include Bao Viet Insurance, Dai-Ichi Vietnam, AIA Vietnam, Prudential Vietnam, Chubb Vietnam, Generali Vietnam, HanwhaLife Vietnam, Cathay Vietnam, MB Ageas and Mirae Asset Prévoir.
Meanwhile, the top 10 non-life insurance companies in 2023are Bao Viet Insurance, PVI Insurance, Bao Minh Joint Stock Corporation, VietinBankInsurance Company, Military Insurance Corporation (MIC), Petrolimex Joint StockInsurance Company (PJICO), BIDV Insurance Corporation, Aviation Insurance JSC, AgricultureBank Insurance Joint Stock Corporation, and Saigon-Hanoi Insurance Corporation.
Vietnam Report made assessments independently on the foundation of their financial capacity and mediareputation, and a survey of relevant organisations and individuals conducted inMay – June this year.
According to Vietnam Report General Director Vu Dang Vinh, insurance premiumrevenue in the first five months of 2023 was estimated at nearly 93.2 trillionVND (3.96 billion USD), down nearly 1.5% over the same period last year. Many insurers admit thatthis is a difficult period for the insurance market.
Experts held that after economic fluctuations and disruptions inthe global supply chain due to the COVID-19 pandemic, the Law on InsuranceBusiness (amended), which took effect on January 1, 2023, is expected to be a doseof “vaccine” to make the insurance market more transparent.
They believed that difficulties facing thesector will last for only a short time, and the potential of the market remainsgreat.
Up to 72.7% of the respondents in the survey by Vietnam Report said that strongtechnological development and application of technology in all stages of theinsurance industry’s value chain represent the greatest opportunity to promote recoveryof the industry./.
The non-life insurance sector has seen a flurry of merger and acquisition (M&A) deals over the past two years, partly reflecting the attractiveness and keen competition of the market, which still has room for growth.
It is critical to improve the quality of insurance agents and consultants to consolidate trust of insurance buyers and bring the life insurance market back on track, experts have said.
PVI Insurance Corporation (PVI Insurance) proudly achieved remarkable recognition on June 7, as the sole insurance enterprise in Vietnam honoured in the prestigious "International Finance Insurance Awards" by the United Kingdom's International Finance Magazine (IFM).
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
The list of the top 10 most prestigious life and non-life insurance companies in Vietnam in 2023(Photo: //markettimes.vn/) 
