Tag: Insurance business

The revised Law on Insurance Business, passed by the National Assembly (NA) on June 16 and effective from January 1, 2023, stipulates that insurance companies are not permitted to invest in real estate business, except by buying shares in real estate enterprises listed on the stock market.

International Financial Reporting Standards 17 (IFRS 17) will become effective from January 1, 2023 and have a comprehensive impact on the business activities of insurance companies. Vietnamese insurers must begin preparations now to keep pace with market changes and compliance requirements.