Life Report

Product Insurance Market Reports Life Rev Ukraine

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice


  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Vietnam's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Vietnam's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Vietnam

The Vietnam life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Vietnam. Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Vietnam and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Vietnam’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Vietnam is available.

Axco’s report describes the regulatory framework that applies to the Vietnamese domestic life insurance sector, including whether non-admitted insurance is permitted in Vietnam; as well as the legislation necessary to know regarding Vietnam’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Vietnam with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Vietnam market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Vietnam, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Vietnam pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Vietnam report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Vietnam Life & Benefits Report Extract

Below are brief extracts of information from the Vietnam Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Growth in the life insurance market in 2018 (+30.12%) and 2019 (+ 23.75%) continued to be dynamic, significantly outpacing growth rates in non-life insurance.

The product mix of the life insurance market premium is mainly made up of savings business, that is, endowment and universal life.


The state-administered social security retirement pension scheme has been estimated to cover only a minority (estimated at about 25%) of the working population. The government, although keen to make progress in relation to state pension provision, accepts that poverty and the size of the informal employment sector are likely to continue ....


Health insurance was recognised by the regulator as a separate class of insurance business in 2010.

Insurance companies may not simultaneously carry out life and non-life business, and must hold separate licences for non-life, life and health insurance business respectively.

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