According to the Insurance Association of Vietnam (IAV), estimated data from businesses shows that in the first six months of 2025, total insurance premium revenue reached VND67,242 billion, with new business premiums accounting for VND11,728 billion (VND449.56 million).
The number of active contracts exceeded 11.7 million, increasing by 1.06 percent compared to the same period last year. Total industry assets grew to VND910,829 billion, a 10.74 percent rise, with VND787,000 billion reinvested into the economy, up 10.25 percent. Equity and charter capital of companies saw steady growth of 5.33 percent and 1.32 percent, respectively.
During this period, insurance benefit payments were estimated at VND27,468 billion, an increase of nearly 4.4 percent over the same period last year.
Effective July 1, 2025, Decree 46/2023 and Circular 67/2023 introduce significant changes to investment-linked insurance products. These regulations mandate that such products focus solely on death and total permanent disability benefits, with additional benefits like critical illness, accident, and hospitalization coverage now offered separately.
This restructuring enhances customer choice and strengthens consumer protections by allowing tailored benefit selections, reducing the potential for future disputes. As a result, many investment-linked insurance products ceased sales on July 1, 2025.
This marks a pivotal step in the life insurance industry's transformation. By decoupling risk benefits into distinct products, policyholders can better align their coverage with individual needs, fostering transparency and trust.
For existing contracts issued before July 1, 2025, all customer benefits remain unaffected, with insurance companies fully committed to honoring original terms and obligations.
These developments signal a positive shift for the life insurance sector, particularly when contrasted with challenges faced just three months prior. According to 2024 financial reports, 10 insurers reported profit declines compared to 2023, with three recording losses.
The industry has been grappling with its most severe crisis since early 2023 but ongoing comprehensive reforms by businesses and regulators are driving a promising recovery, positioning the sector to reclaim its former strength.
