State capital divestment planning and the removal of limitations on foreign ownership are expected to drive insurance stocks to flourish in 2022.

Vietnam’s insurance market is expected to achieve a growth rate of more than 20 percent this year, according to Vietnam Report (VNR).

Flights were canceled, people stayed at home instead of traveling, and import/export activities became stagnant because of the pandemic. As a result, insurers experienced tough days in the first half of the year.

Experts are upbeat about the Vietnamese insurance industry’s health in the coming years, forecasting it would maintain an annual double digit growth rate.

 Vietnam's life insurance market continues to witness strategic moves by foreign players keen to seize the opportunities its potential presents.