SINGAPORE, March 14 (Bernama-BUSINESS WIRE) — A change in Vietnam law pertaining to the distribution and purchase of insurance products through the bancassurance channel is expected to constrain sales growth over the near term, more so for life side products than the non-life side of the business, according to a new AM Best report.
The Best’s Commentary, “Increased Regulatory Scrutiny of Bancassurance to Impact Vietnam Insurance Industry,” states that amendments to Vietnam’s Law on Credit Institutions is geared toward improving financial conduct and restoring consumer confidence in the country’s bancassurance channel.
