Vietnam's non-life insurance market woos investors in Q1

Foreign investors have shown interest in Vietnam’s non-life insurance market in the first quarter of 2023. Two domestic insurance companies, Vietnam National Aviation Insurance Joint Stock Corporation (VNI) and Military Insurance Corporation (MIC), have welcomed new capital from foreign investors. PYN Elite Fund, an investment fund from Finland, announced it has bought 500,000 shares of MIC, raising its ownership rate from 4.99% to 5.29%. DB Insurance became the parent company of VNI with an ownership rate of 75% in February 2023. The market is waiting for new moves in the State Capital Investment Corporation (SCIC) disbursement roadmap in Bảo Minh Insurance. Experts have noted that despite the profits of this segment mostly declining last year, and the market not being as positive as before the pandemic, non-life insurance still has a certain attraction to foreign capital flows due to the low insurance penetration.