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.
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%.
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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:
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
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.
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.
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