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​ 

March 4, 2019
In January 2019, the Thai Cabinet agreed to propose the Marine Insurance Bill, as prepared by the Ministry of Finance, to the National Legislative Assembly for consideration. When the bill has been passed by both the House of Representatives and the Senate it will be passed to the monarch to be signed into law, and then published in the Government Gazette  before coming into force.
January 22, 2019
Following a recent announcement that Myanmar’s insurance market would soon open to foreign investment, on January 18, 2019, Myanmar’s Ministry of Planning and Finance issued a formal Request for Proposal (RFP) to life insurers, and Expression of Interest (EOI) Invitation Letters to life and non-life insurers, seeking to do business in Myanmar.Life Insurers—Proposals for 100% Foreign Owned Company
January 3, 2019
On January 2, 2019, Myanmar’s Ministry of Planning and Finance issued an announcement inviting local and foreign insurers to submit their Expressions of Interest (EOIs) and/or Requests for Proposals (RFPs) for carrying out life and non-life insurance businesses in the country. Successful EOIs and RFPs will ultimately lead to the grant of licenses to operate in the jurisdiction.The following licenses are available:Life Insurance
December 21, 2018
Thailand’s Office of Insurance Commission (the OIC) has issued two sets of requirements—collectively called the OIC Notifications Re: Conditions Relating to Issuing and Offering Insurance Policies of Insurance Companies, and Duties of Non-life Insurance Agents, Brokers and Banks 2018 (the Notifications)—imposing practical new requirements on life and non-life insurance and reinsurance companies in Thailand.