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Life insurers bank on developing industry


Life insurers bank on developing industry
22:06 | 03/06/2021
Life insurers are anticipating a rising middle-class population. Photo: Dung Minh
Fresh data from the Vietnam Insurance Association (VIA) revealed that in the first quarter of 2021, the total insurance premium revenue reached more than VND14.9 trillion ($6.5 billion), up 6 per cent over the same period of last year. In terms of non-life insurance, reinsurance firm Swiss Re forecasted that this sector will reach a value of about VND70 trillion ($3.04 billion) in 2021, up 25 per cent compared to 2020.
Yen Tran, analyst at KIS Securities commented on trends that have been prevalent for a couple of years. “The overall insurance penetration rate in Vietnam in 2019 was 60 basis points below the average rate in emerging markets and a distance from the 9.6 per cent in advanced markets,” Tran said. “Average insurance spending per capita was around $72 in Vietnam in 2 ....

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Generali makes $1.4bn offer to buy Cattolica Assicurazioni shares


01-08-2018
Italian insurer Generali has launched a $1.4 billion cash offer to buy all of the shares of Cattolica Assicurazioniit does not already own. It said the move would consolidate its position in Italy in property/casualty and life and reinforce its position amongst the biggest European insurers.
Generali said the offer is expected to build on the momentum of the strategic partnership it entered into with Cattolica in June 2020, when it acquired 24 percent of the business. It said the deal should allow customers of both organisations to benefit from the breadth of the combined product offering, the expanded reach of distribution channels and the integration of key digital technologies. ....

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