Vietnam’s life insurance sector has immense growth

Hanoi (VNA) – The World’s leading source for international market research and
data Research and Markets said Vietnam’s life insurance sector has immense growth
potential, citing the country’s population of over 85 million and a penetration
level of below 10 percent.

In the newly-added “Vietnam Insurance Sector Forecast to 2013” report, Research
and Markets noted that Vietnam’s insurance market is one of the fastest growing
markets in the world.
“Despite a global economic recession, Vietnam has been able to attract
foreign investments from countries like Japan and South Korea . Besides
this, several international players are also lining up to enter the country,”
said the report.

While noting that Vietnamese may be reluctant to use life insurance as a saving or
investment option; the report said there is a need for protection against financial
losses arising out of major medical treatment expenses, disablement or death of
bread winners, which will continue to remain high.-Enditem