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Home Association News Vietnam's Insurers Seize Opportunities Arising From Growing Motor Population

Vietnam's Insurers Seize Opportunities Arising From Growing Motor Population

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Motor insurance is a major class of business in Vietnam's non-life insurance industry, accounting for 28% of the country's non-life direct premium income in 2013. Compared with some other countries in Southeast Asia, Vietnam's motor insurance penetration (ratio of motor direct premium income to gross domestic product [GDP] at current prices) is approximately 0.2%, similar to Indonesia (0.2%) but lower than the penetration levels of Malaysia and Thailand (approximately 0.8%).

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