Wave of wealth transfer
A recent McKinsey & Company report highlights the growing opportunity for insurers across Asia as HNWIs and UHNWIs accumulate more assets, and raises important considerations for Vietnam’s insurance market.
Challenges and opportunities for insurance market in Vietnam
Vietnam’s insurance development strategy must reflect an ever-changing world and the associated coverage needs.
Insurance market in need of transparency
With a legal framework now in place, analysts say that Vietnam’s insurance market needs greater transparency to tackle unfair competition and insurance fraud. The overall structure of the market also needs to be improved, such as in the re-insurance sector, which had just two local players as of the end of 2021.