Press Release
Vietnam Motor Insurance Market Gears Up for USD 1.18B Milestone by 2032
Pune, December 4, 2025
Vietnam Motor Insurance Market to Surpass USD 1.18 Billion by 2032, Driven by Rising Vehicle Ownership and Digital Policy Issuance
Vietnam’s motor insurance industry is poised for steady growth, expected to expand from an estimated USD 0.82 Billion in 2024 to nearly USD 1.18 Billion by 2032. This reflects a CAGR of approximately 5.1% during the forecast period 2025–2032, according to a new market research report published by Global Data Route Analytics.
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The growth trajectory is supported by increasing consumer awareness of financial protection, growing vehicle ownership across urban and semi-urban regions, and regulatory mandates. The digital transformation of the insurance ecosystem in Vietnam, including online platforms for policy issuance, claims, and renewals, has significantly boosted market accessibility. Favorable regulations aimed at improving road safety and insurance compliance further enhance penetration.
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Key market trends include:
• Rising demand for comprehensive coverage among private car and commercial fleet owners
• Digitization across distribution channels including banks, agents, and online platforms
• Strong growth in electric vehicle insurance segments driven by environmental incentives
• Expansion in medical payments and personal injury protection coverage
The report segments the Vietnam Motor Insurance Market as follows:
• By Insurance Type: Third-Party Liability, Comprehensive, Collision, Personal Injury Protection, Others
• By Vehicle Type: Passenger Cars, Commercial Vehicles, Two-Wheelers, Electric Vehicles
• By Coverage Type: Liability, Collision, Comprehensive, Uninsured Motorist, Medical Payments
• By Distribution Channel: Agents/Brokers, Banks, Direct Sales, Online, Others
• By End User: Individual and Corporate Customers
• By Region: Vietnam (primary), with benchmarking across China, India, Japan, South Korea, USA, UK, Germany, Brazil, UAE, and others
Leading players profiled in the report include:
• Bao Viet Insurance Corporation
• Petrolimex Insurance Corporation (Pjico)
• Bao Minh Insurance Corporation
• PTI Insurance
• MIC – Military Insurance Corporation
• VNI – Viet Nam National Reinsurance Corporation
• Liberty Insurance Vietnam
• BIDV Insurance Corporation (BIC)
• PVI Insurance
• AIG Vietnam
• AAA Assurance Corporation
• Prudential Vietnam
• Hanwha Life Vietnam
• Samsung Vina Insurance
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About the Company
Global Data Route Analytics is a market research and consulting firm that provides businesses with data analysis, market forecasts, and tailored reports across various industries. The company uses advanced data analysis techniques, proprietary data, and an expert team to help clients understand market trends, make informed decisions, and develop strategies. They focus on delivering customized solutions, competitive intelligence, and growth strategies to help businesses succeed in their respective markets.
Media Contact:
Srushti Tungar
Global Data Route Analytics
