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Update news vietnam's non-life insurance market
While mergers and acquisitions in the Vietnamese life insurance sector have been relatively quiet, M&As in the non-life insurance sector have been quite strong, with the participation of both foreign and domestic investors.
The Ministry of Finance will inspect four non-life insurance companies in 2024 to ensure adherence to mandatory motor vehicle insurance regulations.
Vietnam's non-life insurance market, currently valued at approximately US$ 2.8 billion, is projected to grow to $28 billion by 2030. Despite this potential, foreign investors have found limited success in the sector over the past 20 years.
Non-life insurance companies have seen a mixed performance in the first quarter of 2024, with several experiencing significant profit growth and others facing challenges.
Viet Nam’s non-life insurance market has continued to attract foreign investors in the first months of this year.