Apart from industry-specific difficulties, the trend of interest rates going down will also make inroads into insurers’ profitability. Bancassurance grinds to a halt The insurance industry has lately faced mounting challenges. Insurance companies in Vietnam currently follow a two-pillar business model, with their revenue mainly coming from the insurance business itself and from financial investment. Their insurance business this year has to some extent subdued due to bancassurance hitting the rock bottom and the people tightening their belt, forcing insurers to make a marked shift to financial investment, expecting to […]
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