Life insurance premiums are estimated at VND148.8 trillion, up by 0.5%, while non-life insurance premiums are expected to reach VND88.4 trillion, a rise of 10.3%.

The insurance market continues to experience steady growth, according to the National Statistics Office (NSO).

Insurance premium revenue in the fourth quarter of last year is estimated to surge by 4.5% compared to the same period last year, with life insurance premiums up by 1.1% and non-life insurance premiums rising by 11.1%.

The total amount of insurance benefits paid out is estimated to reach VND91.8 trillion by the end of last year, a growth of 13.5% compared to 2024.

The total amount invested back into the economy is expected to be nearly VND959 trillion, rising by 10.3%.

The total assets of the insurance market are estimated at VND1.1quadrillion, up by 8.6%, while total insurance reserves are expected to increase by 8.8%, and the total equity capital of insurance companies is forecast to grow by 3.8%.

There are currently 86 insurance companies operating in both life and non-life insurance sectors in Vietnam.

According to data from the Insurance Association of Vietnam, in the non-life insurance sector, health insurance has the largest revenue in the first nine months of the year, followed by property insurance, engineering insurance, motor vehicle insurance, maritime insurance, and other types of insurance.

In the life insurance sector, for the first nine months of the year, total life insurance premiums are estimated at VND105.8 trillion, a decrease of 0.65% compared to the same period last year.

Vietnam’s insurance sector catches foreign attention

The Vietnamese insurance market is heating up with many high-value bancassurance deals and mergers and acquisitions (M&A) unveiled recently.