Vietnam Report Joint Stock Company has just announced the list of Top 10 prestigious insurance companies in 2023 including 2 groups: Life insurance and non-life insurance.
According to the announcement, the Top 10 prestigious life insurance companies include: Bao Viet Life Corporation, Dai-Ichi Vietnam Life Insurance Company Limited, AIA Life Insurance Company Limited (Vietnam), Prudential Vietnam Life Insurance Company Limited, Chubb Vietnam Life Insurance Company Limited, Generali Vietnam Life Insurance Company Limited, Hanwha Life Vietnam Insurance Company Limited, Cathay Vietnam Life Insurance Company Limited, MB Ageas Life Insurance Company Limited, Mirae Asset Prévoir Life Insurance Company Limited.
Manulife Headquarters in Ho Chi Minh City
According to the report, this year, Manulife Vietnam Company Limited is no longer in the list of Top 10 prestigious life insurance companies of Vietnam Report. Previously, this company ranked 8th.
According to Vietnam Report, the reputation of insurance companies is assessed objectively and independently, based on the results of assessing the financial capacity of enterprises, assessing the reputation of enterprises in the media using the media coding method, and surveying research subjects and stakeholders conducted from May to June 2023.
In 2022, with economic fluctuations, the insurance industry, although recording a slower growth rate than the previous year, is still relatively stable. This is reflected in the fact that important indicators of the insurance market maintain growth.
According to data from the Insurance Management and Supervision Department, premium revenue of the entire insurance market increased by 15.1% compared to the previous year. Premium revenue of the life insurance sector increased by 15%.
According to Vietnam Report, the good performance of the insurance benefit payment function was also recorded in 2022 with the total amount paid by insurance companies of over VND 64,018 billion (up 13.3% compared to 2021), of which the life insurance sector was about VND 40,600 billion. By the end of 2022, insurance companies had reinvested VND 656,423 billion (up 12.6% compared to 2021).
Accordingly, in the first 5 months of the year, total insurance premium revenue reached about 93,178 billion VND, down nearly 1.5% over the same period last year.
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