Non-Life Insurance Grows 10.3% in 2025, Premium Revenue Estimated at VND 88.4 Trillion

According to data released by the General Statistics Office, non-life insurance premium revenue in 2025 is estimated at VND 88.4 trillion, up 10.3% year-on-year. Meanwhile, total market premium revenue is estimated at VND 237.2 trillion (up 4.0%), of which life insurance accounts for approximately VND 148.8 trillion (up 0.5%). At these levels, the non-life segment contributes nearly 37% of total market premium revenue in 2025 and continues to be the faster-growing segment compared with the overall market.

On a quarterly basis, total market premium revenue in Q4 2025 is estimated to rise by 4.5% compared with the same period last year; within this, life insurance grows by 1.1% while non-life insurance increases by 11.1%. This trend indicates that non-life insurance growth has been maintained at a stable pace and tends to accelerate toward the year-end.

From the perspective of industry scale and cash flows, the General Statistics Office estimates that by the end of 2025, total insurance claim payments will reach VND 91.8 trillion (up 13.5% compared with 2024), while total funds reinvested into the economy will amount to nearly VND 959 trillion (up 10.3%). At the same time, total assets of the insurance market are estimated at VND 1,113.6 trillion (up 8.6%); technical reserves increase by 8.8%, and equity of insurance enterprises rises by 3.8%.

Regarding the product structure within the non-life segment, data from the Vietnam Insurance Association show that in the first nine months of 2025, health insurance generated the largest revenue, followed by property and engineering insurance, motor insurance, marine insurance, and other lines. This structure indicates that non-life revenue continues to concentrate in segments closely linked to the protection of health, assets, and production–business activities as well as transportation.

Looking at the broader macroeconomic context, GDP in 2025 is estimated by the General Statistics Office to grow by 8.02%, with Q4 2025 alone expanding by 8.46% year-on-year, demonstrating that the economy has maintained strong momentum. On this foundation, together with rising risk-protection needs of enterprises and individuals in line with expanding economic activity, the non-life insurance market in 2026 is expected to continue delivering double-digit growth, although the exact pace will depend on economic developments, natural catastrophes, and the overall risk environment.