Country: Vietnam Page 1 / 11
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- September 23 2024
Typhoon Yagi to drive reinsurance premium, deductible increases in Vietnam and beyond
Premiums increases that will allow the carriers to cover costs and mitigate future risks are likely to be particularly evident in high-risk areas, such as coastal provinces in the north.
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- September 16 2024
Typhoon Yagi inflicts US$1.6bn in damages to Vietnam, to impact GDP growth
The super storm impacted 26 Vietnamese localities that collectively represent 41% of the country’s GDP and 40% of its population.
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- September 13 2024
Super typhoon Yagi hit Vietnamese insurers with US$285m in claims payout
PVI Insurance, the largest non-life carrier, called it "a historically undesirable loss for Vietnam’s insurance industry" and for the company. The 9,000 claims filed are expected to keep rising, Ministry of Finance said.
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- September 13 2024
Typhoon Yagi likely to impact earnings of Vietnamese insurers: AM Best
The reinsurance programmes will mitigate the impact on rated non-life insurers’ underwriting performance and would likely prevent capital events.
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- September 6 2024
Typhoon Yagi wreaks havoc in Vietnam, China losses top US$100m
The storm has been downgraded to a tropical depression but the Vietnamese meteorological bureau has cautioned about ongoing risks of landslides and flooding as it continued to move westwards.
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- September 6 2024
Super typhoon Yagi set to bear down on southern China, Vietnam
The most intense tropical cyclone in decades in the South China Sea is expected to have severe impact in Hainan, southern China and northern Vietnam.
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- August 28 2024
Vietnam’s PVI Insurance gets greenlight to raise charter capital to US$157m: report
It is the second capital increase approved by the regulator in five months, as Vietnam's largest non-life insurer continues to grow its market share.
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- August 22 2024
Vietnam non-life carriers’ H1 2024 revenue grows 12% to US$1.6bn
The country’s biggest non-life insurer PVI grew its revenue 65.7% YoY in the first six months of the year, according to the most recent data published by the Insurance Association of Vietnam.
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- August 5 2024
Vietnam non-life insurers to benefit from higher infrastructure spending: AM Best
The rating agency maintains a stable outlook on the country's non-life insurance segment, as demand for commercial lines insurance is set to rise.
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- June 21 2024
Chinese insurtech Huize to buy controlling stake in Vietnamese startup Global Care
The deal marks Nasdaq-listed Huize's foray into the South-East Asia market and will introduce VinaCapital as a strategic shareholder of the Shenzhen-based insurtech.
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- June 3 2024
Vietnam National Reinsurance’s underwriting results to stay favourable: AM Best
The ratings agency has affirmed VinaRe's financial strength rating of "B++" (good) with a stable outlook.
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- May 27 2024
Tropical cyclone landfalls in East Asia set to be above-normal: Guy Carpenter
The western North Pacific region will likely see 19 to 21 tropical cyclone formations this year, which is near-normal activity, according to the reinsurance broker.
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- May 13 2024
Italian trade credit insurer SACE opens offices in Singapore and Vietnam
The government-backed export credit agency and insurer will look to facilitate Italian businesses operating in South-East Asia.
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- May 6 2024
Asian insurance pricing moderates across lines but Japan, Taiwan, Philippines buck the trend: Marsh
Japan was the only Asian country that saw price increases in all lines of business, other cat-exposed markets like Taiwan, Philippines and Indonesia saw strong hikes in property classes but saw varying trends in other lines.
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- May 6 2024
El Niño-aggravated extreme heat threatens Vietnam: national weather agency
The temperature in two towns reached 44 degrees Celsius last week and May weather is expected to be 1.5 to 2.5 degrees higher than in previous years, says National Centre for Hydro-Meteorological Forecasting.
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- April 2 2024
Hanoi Re’s expense ratio to stay elevated: AM Best
AM Best has revised the company’s outlook to positive from stable, and affirmed its "B++" (good) which accounts for the enhancement from its parent, HDI Global.
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- March 28 2024
Vietnam’s PVI Insurance strong underwriting results set to sustain: AM Best
Vietnam's largest non-life insurer's financial strength rating, at "A-" (excellent), was affirmed on its strong performance and support from parent, German insurer HDI Global SE.
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- March 14 2024
Vietnam’s amended law set to stunt bancassurance sales growth: AM Best
Heightened regulatory scrutiny has already led to the first fall in insurance premiums in a decade in 2023. Still, the amended law will impact the non-life sector less compared to life.
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- March 11 2024
Overseas premium of Korea’s four major non-life insurers surpasses trillion-won milestone in 2023: report
The country’s big four have doubled their international business in the last five years led by DB Insurance, which accounts for 50% of the overseas premium.
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- March 1 2024
Aon shakes up Asia leadership with three expanded regional roles
Singapore CEO Andrew Minnitt has been put in charge of Singapore, Malaysia and Indonesia, while the Philippines head Darren Oliver will lead the Philippines, Thailand and Vietnam and commercial risk solutions head Tracy-Lee Kus will take charge as head of Japan and Korea.
