The fundamental basis for State management of Vietnam life insurance company’s banking activities

Abstract

In the period 2011- 2014, the Vietnam life insurance market has been a rapid development with an average revenue growth of 20% per year and expected account for about 2.5% of GDP in 2015. This growth has contributed positively to the development of financial markets and socio-economy in Vietnam. For the sustainable growth of Vietnam life insurance, the state management for this business should be reviewed, adjusted and improved in line with socio-economic context. Within this article, the author focuses on assessing the new point on the legal, economic and technical framework to the management of the State Bank of Vietnam (SBV) for Vietnam life insurance company’s banking activities in addition to the State management of the Ministry of Finance and other government agencies.