You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

January 12, 2023

Practical Law: Insurance and Reinsurance in Vietnam 2022

Thomson Reuters Practical Law

Experts from Tilleke & Gibbins’ corporate and commercial team have written the Vietnam chapter of Practical Law’s Insurance and Reinsurance Global Guide, a Q&A-style overview of insurance and reinsurance law in dozens of jurisdictions worldwide.

The guide covers:

  • Market trends
  • Regulatory framework and relevant legislation
  • Authorization for insurers, reinsurers, and intermediaries, and ownership restrictions
  • Ongoing requirements and penalties for non-compliance
  • Sales and marketing
  • Transfer of risk
  • Reinsurance contracts and risks
  • Contracts and policies
  • Claims
  • Dispute resolution
  • Insolvency
  • Tax
  • InsurTech
  • Reform

To read the Vietnam chapter, please visit the Practical Law website or click on the link below.

RELATED INSIGHTS​ 

September 10, 2019
On June 14, 2019, the National Assembly of Vietnam passed Law No. 42/2019/QH14 amending the Law on Insurance Business and the Law on Intellectual Property, which will come into effect on November 1, 2019, except for certain provisions amending the Law on Intellectual Property.
August 26, 2019
On August 13, 2019, Thailand’s Office of Insurance Commission (OIC) held a meeting to clarify its regulatory plan, which focuses on amendments to the approval process for insurance products and standard health insurance contracts. The amendments are expected to be implemented within this year.Amendments to the Approval Process for Insurance ProductsThe OIC plans to introduce a new approval system for insurance products. The amendments will reduce the timeline for approvals for insurance products as follows:
May 28, 2019
Amendments to the Non-life Insurance Act B.E. 2535 (1992) and Life Insurance Act B.E. 2535 (1992) were published in the Government Gazette  on May 25, 2019. They will come into force 180 days after publication—i.e. November 21, 2019. These amendments are the first in a series of updates that the Office of Insurance Commission (OIC) intends to introduce to modernize and improve Thailand’s insurance laws.The amendments mainly focus on insurance intermediaries, i.e., agents and brokers. The key changes introduced by the amendments are as follows:
April 10, 2019
The 2019 edition of the Insurance and Reinsurance Global Guide , a Practical Law Company publication that provides an overview of insurance and reinsurance law in 38 jurisdictions worldwide. The Myanmar chapter of the guide was written by members of Tilleke & Gibbins’ Yangon office, including Yuwadee Thean-ngarm, director, and Nwe Oo, attorney-at-law.