Assessing the Current Situation of Business Activities of Vietnamese Life Insurance Enterprises
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 07
Abstract
By methodology research method, the article has synthesized information about the history of the formation and development of life insurance in the world and in Vietnam. As a country in the group of developing countries, the insurance industry, including life insurance, is considered to have a lot of potential for future development with the advantage of a young population and a growing economy. From the insurance market data over the years, the article has analyzed the business performance of Vietnamese life insurance enterprises. Accordingly, the premium revenue of the entire insurance market has increased continuously over the years with the average number of new policies reaching 3,024,004 contracts/year or the diversified distribution channel size is also a reason increase in market revenue. However, it also has limitations such as the strong but unbalanced market size, the number of Universal life and Term Insurance products accounted for 87% and the number of contracts canceled before expiration has increased continuously over the years. years. The article also identifies development opportunities and challenges such as increasing competition, a high number of insurance product distribution agents leaving every year, and an inconsistent information technology infrastructure.
Authors and Affiliations
Thi Huu Ai Nguyen, Duc Hieu Bui,Thu Trang Le
Keywords
Related Articles
- EP ID EP727238
- DOI 10.47191/jefms/v6-i7-43
- Views 54
- Downloads 0
Size Company as Moderator the Influence of Rofitability and Leverage on Stock Return in Manufacturing Companies in Indonesia
This study aims to examine the effect of profitability and leverage on stock returns through the role of firm size as moderator. The Research population used manufacturing companies. There are 143 companies listed on the...
The Influence of Strategic Leadership Style and Career Path Management on Personal Performance at the Indonesian State Intelligence Agency Mediated by Work Climate
The purpose of this study was to analyze the direct and indirect effects of Strategic Leadership Style and Career Path Management on Personal Performance at the Indonesian State Intelligence Agency mediated by Work Clima...
Determinants of the Attractiveness of Private Capital in the Central African Economic and Monetary Community (CEMAC)
The objective of this paper is to identify the factors of attractiveness of private capital flow (foreign direct investment and portfolio investment) in CEMAC over the period 2005-2019. To do so, we used the generalized...
Do Global and Internal Factors Drive the Stock Prices of LQ45 Companies in Indonesia?
Stock prices change daily, driven by a variety of global and internal factors. This purpose of this study is to gather empirical evidence on how global factors (Fed Fund Rate, oil prices) and internal factors (dividend p...
The Effect of Workload and Work Stress on Turnover Intention through Organisational Commitment as a Mediating Variable (Case Study at PT PLN (Persero) ULP Bima City)
The purpose of this study was to determine the effect of workload and work stress on turnover intention through organisational commitment as a mediating variable. This research uses associative quantitative research meth...