Outlook of the Vietnamese non-life insurance market in 2026

GlobalData expects the Vietnamese non-life insurance market turnover to reach 90.24 billion VND (3.9 billion USD) in 2026 compared to 56.7 billion VND (2.4 billion USD) in 2020. The average annual growth rate has been estimated at 8.5%.

The premium growth depends on the evolution of the health and personal accident (PA&H), motor and property damage classes of business. In 2020, these three activities represented 32.2%, 30.5% and 24.8% of market share respectively.

The strong economic recovery and the launch of new mandatory insurance products is also expected to contribute to P&C growth.