Total insurance premium revenue of the entire market in the first month of 2026 was estimated at VND 20,504 billion, up 5.81% year-on-year. Of this, non-life insurance premium revenue was estimated at VND 10,713 billion, up 13.76% compared to the same period in 2025, while life insurance premium revenue was estimated at VND 9,791 billion, down 1.7% year-on-year.

Non-life Insurance

1. Market performance

Total gross direct premium revenue of the non-life insurance market in the first month of 2026 reached VND 10,713 billion, up 13.76% compared to the same period in 2025.

PVI continued to lead the market in terms of direct premium revenue, holding a market share of 19.23% with estimated revenue of VND 2,060 billion, up 6.99% year-on-year. It was followed by Bao Viet with a 15.15% market share and estimated revenue of VND 1,623 billion, up 24.44%; Bao Minh with a 9.06% market share and estimated revenue of VND 971 billion, down 9.4%; DBV with a 6.1% market share and estimated revenue of VND 653 billion, up 122.7%; and PTI with a 5.07% market share and estimated revenue of VND 543 billion, down 0.36%.

In addition to the leading non-life insurers mentioned above, several insurers posted direct premium growth of over 50% compared to the same period in 2025, including DBV (VND 653 billion, up 122.7%), Tasco (VND 215 billion, up 127.7%), VBI (VND 516 billion, up 53.84%), and VASS (VND 57 billion, up 57.64%). Meanwhile, some insurers recorded declines in direct premium revenue, such as BSH (VND 79 billion, down 71.41%) and Samsung Vina (VND 38 billion, down 24.76%).

By line of business, health insurance accounted for the largest share of total premium revenue at VND 4,495 billion, representing 41.96%. This was followed by motor insurance at VND 2,340 billion, accounting for 21.84%; fire and explosion insurance at VND 1,649 billion, accounting for 15.39%; and property insurance at VND 920 billion, accounting for 8.59%.

2. Claims

Total direct claims paid by the non-life insurance market in the first month of 2026 were estimated at VND 2,550 billion, with a direct loss ratio of 23.8%, higher than the loss ratio recorded in the same period of 2025.

A total of 18 out of 32 non-life insurers and branches of foreign non-life insurers reported direct loss ratios lower than the market average. The remaining 15 insurers recorded direct loss ratios above the market average, including three insurers with particularly high loss ratios: Samsung Vina (160.69%), Fubon (150.78%), and BSH (115.03%).

Source: Ministry of Finance Portal – Insurance Supervisory Authority