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In Vietnam, there are 24 insurance companies in the
following forms : State owned enterprises, joint
stock companies, mutual insurance companies,
Vietnamese- foreign joint venture insurance
companies, 100% foreign owned insurance companies
and branches of foreign insurance companies in
Vietnam.
The range of activities includes insurance cover for
life, assets, losses, vehicles, ships, civil
liabilities, cargo transport, aviation, credit and
financial risks insurance.
Life insurance market achieved the optimistic
growth, there are 5 life insurance companies
including 1 of state owned company (Bao Viet), 3 of
100% foreign owned companies (Prudential. AIA,
Manulife) and 1 of joint venture company (Bao Minh-CMG).
Total revenue of the first six months in 2003 is
2900 billions dong , new contracts are 1.000.000
ones which are double higher than the same period
last year, resulting the total valid contracts of
all companies are 4.000.000 ones
Non- life insurance market is considered as the
market with highest growth rate. From 1993-2002, the
average growth rate is 19.39% per year. From
2002-2003, this rate is 47,6 %. The highest market
share belong to Bao Viet Company with 40.49%, the
second is Bao Minh with about 28.08%, the third is
Pvins : 14.50%, PJICO with 5.65% ranks the fourth,
and next are PTI,ALLIANZ,UIC,VIA, Bao Long, BIDV-QBE..
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