Seeking new insurance markets for business strategy will always be a focus of cross-border minded insurers, brokers, and reinsurers. But how do you determine what markets show growth and demonstrate favourable demographics? What are the regulatory requirements for market entry, and what is the competitive landscape in the market or line of business?

Having up-to-date global reporting analysing where opportunities may exist could be the difference between a good and a great year. With Axco, you gain a powerful partner in your search for the next key market for investment.

Axco research analysts spotlight Vietnam's potential opportunities in the latest insurance market report for Vietnam. The report captures market insight from local professionals, regulatory and compliance details, and company data, with recent information and historical trends.

A combination of steady GDP growth, associated industrial and commercial activity, and the regulatory emphasis on compulsory insurances, have seen non-life market premium volume increase across a wide range of lines of business in Vietnam.

Trade agreements such as the EU-Vietnam Free Trade Agreement and similar UK-Vietnam trade pact should improve access to EU and UK companies within Vietnam. New insurance laws soon to be implemented include insurance related provisions to accommodate these trade agreements and the potential change in supervision approach from a compliance-based model to a risk-based model. Implementation of the new insurance law is likely to augment the use of actuarial services in all sectors of the non-life insurance market to support the shift to a risk-based supervision model.

With a regulatory focus on more compulsory insurances, a steady outlook for growth, and agreements in place to encourage more EU/UK investment, perhaps Vietnam is worth a closer look as you consider your next market to enter.

Before you can determine where your next investment will/should be, you will require the information and data to support your decision. Axco provides in-depth reporting services on 170+ markets worldwide and has supported the global insurance industry for over 55 years. If you haven't reviewed our reporting portal or subscribed in the past but would like to see the recent enhancements we have made, please reach out and set up a brief demonstration. We can discuss how our solutions can help your business achieve more in 2022 and beyond.

For more information, email me at: todd.engman@axcoinfo.com

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