22/10/2025
Vietnam’s SMEs Shift Towards Non-Life Insurance
Small and medium-sized enterprises (SMEs) account for more than 95% of all businesses in Vietnam, underscoring their pivotal role in the national economy. This dominance represents a significant growth opportunity for the country’s non-life insurance market. Yet, due to thin capital, limited resources, and a risk-averse mindset, many SMEs remain hesitant, often restricting their participation to mandatory products such as fire and explosion insurance or motor vehicle liability coverage, while voluntary policies attract far less attention.
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