In General
Vietnam continues to make economic progress. It is a solid middle income country. Economic growth has lifted many Vietnamese out of poverty. At the same time, the middle class is expanding. World Trade Organization (WTO) membership, the ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”), the European Union (“EU”)-Vietnam Free Trade Agreement (“EVFTA”), Investment Protection Agreement (“EVIPA”) and several other significant free trade agreements, and membership in the ASEAN Economic Community (“AEC”) have given Vietnam access to foreign markets and capital, while making Vietnamese companies, particularly Vietnamese insurance enterprises, stronger through increased competition.
Many foreign insurance companies (particularly in the life segment) operate in Vietnam and treat Vietnam as a natural extension of their regional or global footprints. New products are being developed. Agency networks are being expanded. In the non-life segment, local companies have generally shown more pricing discipline than have their counterparts elsewhere in the region. Motor insurance – so often a thankless and profitless line in emerging markets – accounts for about one third of the premiums written in the non-life segment. Companies are also beginning to provide innovative products tailored to Vietnam. The Ministry of Finance points to increase in performance with the total posted premiums for 2025 to have been VND 237.211 billion (USD 9. billion).[1]. Total value of the insurance sector in 2025 was around VND 1,067,825 billion (USD 40.5 billion). Insurance companies invested around VND 895,954 billion (USD 34.04 billion) in 2025.[2] Although a slowdown has been observed, the insurance sector has still recorded an average growth rate of 9.75% over the 2022–2025 period.
[1] USD 1 = VND 26,316 (as of September 2026 as published by the State Bank of Vietnam).
[2] Ministry of Finance, December 5, 2025.
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