Reinsurance in Vietnam, Key Trends and Opportunities to 2018

Synopsis

Despite the financial crisis, the Vietnamese reinsurance segment recorded stable growth during the review period (2009-2013). This was primarily due to the increasing cost of reinsurance protection, the expansion of direct insurance, and a greater understanding of the benefits of reinsurance. The number of dedicated reinsurers increased from one to two in 2011, although some of the country's larger insurers, such as Bao Viet and Bao Minh, conducted their own reinsurance operations in 2013. 

The segment's gross written premium increased from VND2.1 trillion (US$0.1 billion) in 2009 to VND5.6 trillion (US$0.3 billion) in 2013, at a review-period compound annual growth rate (CAGR) of 27.7%. The high frequency of natural disasters prompted insurance companies to increase the percentage of premium ceded to reinsurers. The segment's value is expected to increase from VND5.6 trillion (US$0.3 billion) in 2013 to VND12.5 trillion (US$0.5 billion) in 2018, at a forecast-period (2013-2018) CAGR of 17.4%.


Summary
The report provides in-depth market analysis, information and insights into the Vietnamese reinsurance segment, including:

 The Vietnamese reinsurance segment's growth prospects by reinsurance category

 Key drivers for the reinsurance segment 

 Vietnamese reinsurance segment's growth prospects by reinsurance ceded from direct insurance

 The competitive landscape in the Vietnamese reinsurance segment 

Scope
This report provides a comprehensive analysis of the reinsurance segment in Vietnam:

 It provides historical values for Vietnam's reinsurance segment for the report's 2009-2013 review period, and projected figures for the 2013-2018 forecast period.

 It offers a detailed analysis of the key categories in Vietnam's reinsurance segment, along with market forecasts until 2018.

 It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Vietnamese its growth prospects.

Reason To Buy
 Make strategic business decisions using in-depth historic and forecast market data related to the Vietnamese reinsurance segment and each sector within it

 Understand the demand-side dynamics, key market trends and growth opportunities in the Vietnamese reinsurance segment

 Identify the 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
 Despite the financial crisis, the Vietnamese reinsurance segment recorded stable growth during the review period.

 The number of dedicated reinsurers increased from one to two in 2011, although some of the country's larger insurers, such as Bao Viet and Bao Minh, conducted their own reinsurance operations in 2013.

 The high frequency of natural disasters prompted insurance companies to increase the percentage of premium ceded to reinsurers.

 The cumulative effect of expansion of Vietnam's insurance industry generated more business for reinsurance, a trend that is expected to continue over the forecast period.

 The key growth driver is anticipated to be government regulations on higher capital requirements for insurers in March 2013.