Rising Medical Insurance Supporting Growth in Vietnam Insurance Industry
Vietnam insurance premium is projected to grow at a CAGR of around 22% during 2011-2014, says RNCOS in its latest research report.
- (1888PressRelease) June 28, 2011 - According to our new research report "Vietnam Insurance Sector Forecast to 2014", Vietnamese insurance market is one of the fastest growing insurance markets in the world. With limited insurance penetration and huge potential, Vietnam offers ample opportunities for international insurers. Both life insurance and non-life insurance segments are registering robust growth. This is evident from the fact that, the insurance market in Vietnam has been enjoying double digit growth rate for the past few years. Moreover, it is expected that, the country's insurance premium is anticipated to grow at a CAGR of around 22% during 2011-2014.
As per our findings, medical insurance has been in huge demand in the country during the past few years as the Ministry of Health approved a proposal to obligate all students, low income state officers, and the poor people across the nation to buy medical insurance, partly funded by the government. During June, 2010, 62% of the population had health insurance coverage. Additionally, Vietnam's market for expatriate healthcare insurance is growing constantly.
Besides, non-life insurance sector, which accounts for over half of the insurance market, witnessed robust growth during the past couple of years. Rising demand for motor, property, and health insurance products is fuelling growth in this sector. We have found that, the financial capacity and business capability of enterprises have significantly increased with the implementation of industry's strategic development measures.
Our report "Vietnam Insurance Sector Forecast to 2014", provides an extensive research and objective analysis of the growing Vietnamese insurance industry, its structure, and demand potential. The report has identified important players operating in the sector. The key players section talks about business profiling of all the leading players. Moreover, it has analyzed all the emerging trends including important drivers to help investors understand the market conditions. Besides, the report has identified the possible growth areas for the expansion of the Vietnamese insurance industry.
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 Vietnam Insurance industry, which will surely prove decisive for the clients.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM326.htm
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