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Published: Mar, 2017 | Pages:
100 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)
Synopsis
Timetric's 'Personal Accident and Health Insurance in Vietnam, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Vietnamese life insurance segment, and a comparison of the Vietnamese insurance industry with its regional counterparts. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Vietnamese economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Summary
Timetric's 'Personal Accident and Health Insurance in Vietnam, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Vietnamese personal accident and health insurance segment, including: • An overview of the Vietnamese personal accident and health insurance segment • The Vietnamese personal accident and health insurance segment's growth prospects by category • A comprehensive overview of the Vietnamese economy and demographics • A comparison of the Vietnamese personal accident and health insurance segment with its regional counterparts • The various distribution channels in the Vietnamese personal accident and health insurance segment • Details of the competitive landscape in the personal accident and health insurance segment in Vietnam • Details of regulatory policy applicable to the Vietnamese insurance industry
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Vietnam: • It provides historical values for the Vietnamese personal accident and health insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period. • It offers a detailed analysis of the key categories in the Vietnamese personal accident and health insurance segment, and market forecasts to 2020. • It provides a comparison of the Vietnamese personal accident and health insurance segment with its regional counterparts • It provides an overview of the various distribution channels for personal accident and health insurance products in Vietnam. • It profiles the top personal accident and health insurance companies in Vietnam, and outlines the key regulations affecting them.
Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Vietnamese personal accident and health insurance segment, and each category within it. • Understand the demand-side dynamics, key market trends and growth opportunities in the Vietnamese personal accident and health insurance segment. • Assess the competitive dynamics in the personal accident and health insurance segment. • Identify growth opportunities and market dynamics in key product categories. • Gain insights into key regulations governing the Vietnamese insurance industry, and their impact on companies and the industry's future.
Key Highlights
• The revised Law on Social Insurance came into effect from January 1, 2016. • The government issued Decree No. 73/2016/ND-CP on implementation and amendments to certain articles of the Law on Insurance Business, which came into effect from July 1, 2016. • Effective from January 2015, National Assembly issued Law No. 46/2014/QH11 making it compulsory for all Vietnamese citizens including employees, workers, army and police force, and dependents to participate in the National Health Insurance (NHI) program. • Effective from July 2016, the New Penal Code criminalizes insurance fraud and holds both violating individuals and commercial legal entities liable. In June 2016, government introduced health insurance medical information system, with an objective to ensure transparency and prevent insurance fraud.
Table of Contents
1 Key Facts and Highlights 2 Executive Summary 3 Economy and Demographics 4 Segment Outlook 4.1 Regional Comparison 4.2 Segment Indicators 4.2.1 Gross Written Premium and Penetration 4.2.2 Claims 4.2.3 Profitability 4.2.4 Assets and Investments 5 Distribution Channel Outlook 6 Competitive Landscape 6.1 Company Profiles 6.1.1 T?p ?oan B?o Vi?t - Company Overview 6.1.2 T?ng Cong ty C? ph?n B?o Minh - Company Overview 6.1.3 Cong ty C? ph?n PVI - Company Overview 6.1.4 Cong ty C? ph?n BH NH Nong Nghi?p Vi?t Nam - Company Overview 6.1.5 T?ng Cong ty C? Ph?n B?o Hi?m B?u ?i?n - Company Overview 7 Governance, Risk and Compliance 7.1 Legislation Overview and Historical Evolution 7.2 Latest Changes in Regulation 7.3 Legislation and Market Practice by Type of Insurance 7.3.1 Life insurance 7.3.2 Property insurance 7.3.3 Motor insurance 7.3.4 Liability insurance 7.3.5 Marine, aviation and transit insurance 7.3.6 Personal accident and health insurance 7.4 Compulsory Insurance 7.4.1 Motor third-party liability insurance 7.4.2 Aviation liability insurance 7.4.3 Fire and explosion insurance for high risk establishments 7.4.4 Social insurance 7.4.5 Construction insurance 7.5 Supervision and Control 7.5.1 International Association of Insurance Supervisors (IAIS) 7.5.2 Ministry of Finance 7.5.3 Insurance Supervisory Authority 7.6 Non-Admitted Insurance Regulations 7.6.1 Overview 7.6.2 Intermediaries 7.6.3 Market practices 7.6.4 Fines and Penalties 7.7 Company Registration and Operations 7.7.1 Type of insurance organization 7.7.2 Establishing a local company 7.7.3 Foreign ownership 7.7.4 Types of license 7.7.5 Capital requirements 7.7.6 Solvency margin 7.7.7 Reserve requirements 7.7.8 Investment regulations 7.7.9 Statutory return requirements 7.7.10 Fee structure 7.8 Taxation 7.8.1 Insurance premium or policy taxation 7.8.2 Withholding taxes on premium paid overseas 7.8.3 Corporate tax 7.8.4 VAT 7.8.5 Captives 7.9 Legal System 7.9.1 Introduction 7.9.2 Access to court 7.9.3 Alternative dispute resolution 8 Databook 8.1 Policies and Premium 8.1.1 Claims and Expenses 8.1.2 Assets and Investments 9 Definitions and Methodology 9.1 Definitions 9.2 Methodology 10 About Timetric 10.1 Contact Timetric 10.2 About Timetric 10.3 Timetric's Services 10.4 Disclaimer
List of Tables
Table 1: Vietnamese Personal Accident and Health Insurance - Key Facts, 2015 Table 2: Vietnamese Personal Accident and Health Insurance -Top Insurers, 2015 Table 3: Vietnamese Government Credit Ratings Table 4: Vietnamese Personal Accident and Health Insurance - Gross Written Premium (VND Trillion and US$ Million), 2011-2015 Table 5: Vietnamese Personal Accident and Health Insurance - Penetration (%), 2011-2015 Table 6: Vietnamese Personal Accident and Health Insurance - Gross Written Premium (VND Trillion and US$ Million), 2015-2020 Table 7: Vietnamese Personal Accident and Health Insurance - Penetration (%), 2015-2020 Table 8: Vietnamese Personal Accident and Health Insurance - Premium per Capita (VND and US$), 2011-2015 Table 9: Vietnamese Personal Accident and Health Insurance - Premium per Capita (VND and US$), 2015-2020 Table 10: Vietnamese Personal Accident and Health Insurance - Paid Claims (VND Trillion and US$ Million), 2011-2015 Table 11: Vietnamese Personal Accident and Health Insurance - Paid Claims (VND Trillion and US$ Million), 2015-2020 Table 12: Vietnamese Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015 Table 13: Vietnamese Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020 Table 14: Vietnamese Personal Accident and Health Insurance - Total Assets (VND Trillion and US$ Million), 2011-2015 Table 15: Vietnamese Personal Accident and Health Insurance - Total Assets (VND Trillion and US$ Million), 2015-2020 Table 16: Vietnamese Personal Accident and Health Insurance - Total Investment Income (VND Billion and US$ Million), 2011-2015 Table 17: Vietnamese Personal Accident and Health Insurance - Total Investment Income (VND Billion and US$ Million), 2015-2020 Table 18: Vietnamese Personal Accident and Health Insurance - Investment Portfolio (VND Billion), 2011-2015 Table 19: Vietnamese Personal Accident and Health Insurance - Investment Portfolio (VND Billion), 2015-2020 Table 20: Vietnamese Personal Accident and Health Insurance -Leading Insurers, 2015 Table 21: Insurance Company - Key Facts Table 22: Insurance Company - Key Facts Table 23: Insurance Company - Key Facts Table 24: Insurance Company - Key Facts Table 25: Insurance Company - Key Facts Table 26: Vietnam - Insurance Regulatory Framework Key Features Table 27: Vietnam - Insurance Agent Commission Rate Table 28: Vietnam - Life Insurance Regulatory Framework Table 29: Vietnam - Property Insurance Regulatory Framework Table 30: Vietnam- Motor Insurance Regulatory Framework Table 31: Vietnam - Liability Insurance Regulatory Framework Table 32: Vietnam - Tariff Rates for Motor Third-Party Liability Insurance Table 33: Vietnam - Minimum Capital Requirements Table 34: Vietnam - Corporate Tax Rates for the Financial Year 2017 Table 35: Vietnamese Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015 Table 36: Vietnamese Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020 Table 37: Vietnamese Personal Accident and Health Insurance - Claims and Expenses, 2011-2015 Table 38: Vietnamese Personal Accident and Health Insurance - Claims and Expenses, 2015-2020 Table 39: Vietnamese Personal Accident and Health Insurance - Assets and Investments, 2011-2015 Table 40: Vietnamese Personal Accident and Health Insurance - Assets and Investments, 2015-2020 Table 41: Insurance Industry Definitions
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