SINGAPORE, July 30 (Bernama) -- AM Best is maintaining its stable outlook on Vietnam’s non-life insurance segment, citing structural economic advantages and robust demand that are fuelling the expansion of non-life insurance in the country.
The Best’s Market Segment Report, “Market Segment Outlook: Vietnam Non-Life Insurance,” states that the country’s core insurance segments are driving growth. The non-life segment saw a surge in gross written premiums in 2024, mainly fuelled by health and personal accident insurance owing to rising health care costs, increased awareness and the growing use of digital distribution. Continued growth in property and engineering insurance, the second-largest non-life segment after health and personal accident, also contributed to the market expansion.
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