Best’s Market Segment Report: AM Best Maintains Stable Outlook on Vietnam’s Non-Life Insurance Segment

SINGAPORE--(BUSINESS WIRE)--AM Best is maintaining its stable outlook on Vietnam’s non-life insurance segment, citing robust demand, technology adoption and healthy macroeconomic factors.

The Best’s Market Segment Report, “Market Segment Outlook: Vietnam Non-Life Insurance,” states that the country’s positive macroeconomic performance has been underpinned by buoyant electronic exports, and increasing foreign direct investment, driven by the global investment boom in artificial intelligence-related technology and infrastructure. The strong macroeconomic fundamentals, along with increased government expenditure, continue to drive commercial insurance demand and support operating earnings, despite increasing competition.

“Vietnam’s non-life market has been attractive to foreign insurance groups and domestic financial conglomerates seeking growth and diversification. As market competition intensifies, insurers’ underwriting discipline faces challenges from these new entrants and incumbents seeking growth,” said Ken Lau, senior financial analyst, AM Best.

According to the report, operating earnings in 2025 exhibited a strong recovery from the prior year, due in large part to favourable underwriting earnings as the market recovers from the impact of Typhoon Yagi in 2024. Vietnam’s non-life insurance market also showed strong top-line growth in 2025, and the positive trend extended into the first half of 2026. AM Best expects the market’s overall operating performance to remain resilient, underpinned by stable investment returns and positive underwriting results, along with easing reinsurance market conditions.

“Non-life insurers in Vietnam continue to benefit from ample reinsurance capacity and more favourable renewal terms in 2026 and are increasingly well-positioned to optimise their reinsurance programmes to protect against the potential impact of severe catastrophic events,” said Chris Lim, director, AM Best.

To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=366900.

AM Best’s outlook on Vietnam’s non-life segment will be highlighted in a presentation at the Vietnam Insurance Summit, to be held on 31 July 2026, in Da Nang, Vietnam. Additionally, Rob Curtis, managing director and chief executive officer of AM Best’s Singapore operations, will be in attendance and available for meetings. To arrange a meeting with Curtis, please email [e-mail]. Visitors to AM Best’s exhibit booth (No. 10) also can learn more about the rating agency’s role in the insurance industry. AM Best is a diamond sponsor of the event, which will take place at KOI Resort & Residence Da Nang. To learn more about the summit, visit here.

To view current Best’s Market Segment Outlooks, please visit here.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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