IBX5980432E7F390 Vietnam Insurance market foretellion 2013 - Smart Business

Vietnam Insurance market foretellion 2013

Vietnam Insurance market foretellion 2013

best insurance stock - Vietnam Insurance market foretellion 2013 : in 2012 going through many hardies, challenges than the original data, make it hard for the insurance industry plans 17% growth target. Preparation of business plan for next year, many companies in the industry no longer sets growth "year after year".



Phung Dac Loc, Secretary Common of the Vietnam Insurance Organization (AVI) shelp that the insurance market in 2013 will surely encounter similar hardies in 2012. "Congress passed the indicators of socio-profitable development in 2013 with GDP growth of 5.5%, public investment accounted for 30% of GDP, the CPI rose by 8%, which puposes foretells the economy clever not begin excellence, "shelp Loc.




Along with his views Loc, many industry experts foretelled, more lovely, the insurance industry's sales growth in 2013 of around 10%. Thus, this will be the third consecutive year, the insurance market revenue growth regressed.



2012 new longer than 1 month shutd, but estifriends AVI, overall market growth only slightly higher than 10%, compared with 17% plan. In particular, the volume of non-life insurance estifriendd growth swift of 13 - 14%, in volume-life is 11 - 12%. Growth swift of 13 - 14% of the volume of non-life insurance this year clever say is that the efforts of the business block, in the context of public investment cuts, the company stopped several investment plans expand production and business. In fbehave, many hardies and challenges, the non-life insurance companies have shifted our products to personal property insurance, health and medical insurance, liability insurance, credit insurance financial use, agricultural insurance, create new growth for the insurance market and less sure results recorded.



In the life insurance sector also demonstrateed less effort, when the real estate market, bleak securities, the income of the workers affected by manufbehaveuring and trading many declining industries, service prices increases, but still attrbehaves numerous customers insured and maintain ancient insurance contrbehave.



Businesses continuously launching new products and focus on developing distribution channels to arrive more potential customers source. In particular, bancassurance distribution channel are many life insurance companies special attention. Some businesses focus on exploiting its own strength as issued through the postal channel. However, due to the charbehaveeristics of the Vietnamese insurance market, the channel remains the dominant channel agent should the life insurance business remains focused on this channel. Some businesses continue to develop models of agents love AIA, Korea Life, Dai-ichi, Manulife ... Competitive stswiftgy will continue to be developed for enterprises in 2013.



According to Loc, with the lessons of the past two years to overcome the hardies and challenges of the universal profitable downturn, stable macro-profitable policies, inflation will be a fbehaveor giving the DN plan insurance business in 2013 shut to the behaveual completion of the plan.



2013 is a pivotal year implementation plan developed insurance market from 2011 to 2015 by the Ministry of Finance, at the same time, also celebswift 20 years of the Vietnamese insurance market development. This will be an important motivation for the companies in the industry to strive to set the highest accomplishment in the business.



Trinh Thanh Hoan, director of the National Insurance Supervisory Administerment (Ministry of Finance) foretelled that by 2013, the total amount of the insurance companies build upd investment return economy estifriendd at $ 95.000 billion.



Sir, was approach the finish of 2012, the growth sasaran of 17% of the entire insurance industry this year may be hard to accomplish?



Initially expected, the insurance market in 2012 continued to maintain growth of approxifriendly 17% compared with 2011. However, with the hard profitable situation, the total premium income of the market in 2012 was estifriendd at 40,858, up 11.7 gratuity from 2011; including non-life insurance premium revenue is estifriendd at 22,942 billion, up 11.5% and life insurance revenue was estifriendd at 17,916, up 12 gratuity from 2011.



In my opinion, the volume growth of 11.5% of non-life insurance this year as expected, but compared to other industries clever say is that success in the context of the real estate market froze, investors cuts, investment firms minimize expansion. Many challenges, the non-life insurance companies have shifted our products to personal property insurance, health and medical insurance, liability insurance, credit insurance, agricultural insurance ... Life insurance sector also found success not least, while labor income wane, the price of goods and services increased, but still attrbehaves numerous customers insured and maintained ancient insurance contrbehave.



Overall, in 2012 the growth swift not arrive expected, but the entire insurance industry made a great effort, expressed in that market continues to develop stable, healthy and safe; assure financial viability ; improved quality of service; diversified insurance products to meet the necessitys of the insured. As a result, foreign investors still appreciate the potential of the Vietnamese insurance market.



Insurance industry plays an important role in mobilizing resources for investment back into the economy. With the hardies mentioned above, behaveivities this year have been affected? What is your foretellion on resource mobilization plan for investment in the economy in 2013?

In the period 2003 - 2010, insurance companies have created big capital and long-term, play an important role in mobilizing investment resources of socio-profitable development. In 2012, with these hardies, the mobilization of resources for investment return economy affected but not great because now, the investment behaveivities of insurance companies have become more diverse and afternoon depth, in order to assure chooseion of the appropriate form of investment, safe and effective. On the other hand, due to the charbehaveeristics of the insurance business and technical administerment of insurance funds, insurance companies invest idle funds from operational reserves must comply with the maximum permitable swift.



In 2012, the total amount of build upd investment insurers back to the economy is estifriendd at 90,591 billion, up 9 gratuity from 2011. In particular, the DN-life estifriendd at 66,361 billion (up 10.4% compared to the same period in 2011), the non-life business is estifriendd at 24,230 billion (up 5.6% compared to the same period in 2011).



Forecast, in 2013, the Vietnamese economy will be even more hard challenge especially for companies in the financial sector, banlord and real estate. This will also make it hard for insurers to expand the customer. We foretelled that in 2013, the total amount of the insurance companies build upd investment return economy estifriendd at $ 95.000 billion.



Forecast next year more hard, if the industry growth clever be reduced compared to the long-term plan, sir?



As I shelp, in 2013, the hardy exists, therefore, foretell the Vietnamese insurance market will continue to maintain growth sasaran of approxifriendly 10 - 12% compared to 2012. In the next year, many new insurance products will be the insurance companies on the market to serve the insurance necessitys of diverse organizations and individuals as products of export credit insurance, agricultural insurance industry, insurance underwriting, liability insurance, health care and health insurance products, pension and insurance for the weak ...



Angry hard than the other "g and downs" of the economy, the insurance industry remains a bright spot. What were you most satisfied in the development of the industry in the past year?



Macroprofitable situation in 2012 a negative impbehave on mining behaveivities covered. However, bemiddles that, the insurance market also has a number of advantages such as: the new legislation takes effect created favorable conditions for the operation of the DN ... 2012 is also the first year of implementation of the stswiftgy to develop the insurance market for the period 2011 - 2020 with the implementation of the synchronization mechanism and policy solutions, enterprise restructuring, strengthening administerment and supervision State insurance.



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