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VN: One of fastest growing insurance markets

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With limited insurance penetration and huge growth potential, the insurance market in Việt Nam is one of the fastest growing insurance markets in the world, said the Research and Markets.

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According to its new research report themed Việt Nam Insurance Sector Forecast to 2014, the Research and Markets said that the non-life insurance sector, which accounts for over half of the insurance market, has witnessed a robust growth during the past few years.

The country's insurance market has been witnessing a double digit growth for the past few years and is expected to grow at a compound annual growth rate of around 22% during 2011-2014.

Strong demand for motor vehicle insurance products, property, and health insurance products are the major factors responsible for the prospective growth.

Moreover, it is expected that, the non-life insurance will enlarge its share in the total insurance market in coming years.

The research report provides an extensive research and objective analysis of the growing Việt Nam insurance industry, its structure, and demand potential.

Most importantly, the report has figured out the expected insurance sales of both life and non-life insurance products. In this way, the report presents a complete and coherent analysis of the Việt Nam Insurance industry, which will prove decisive for the clients./.

Source: VGP News

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