LIFE PREMIUMS FALTER IN VIETNAM

The annual premium equivalent (APE) in the Vietnamese life sector fell by 3.5% in 2006 compared with 2005, according to figures from the Vietnam Insurance Association. APE at US insurer AIA was down by 32%, while Prudential Vietnam and Manulife of Canada saw their APEs fall by 15% and 9% respectively. The fragmented market is currently led by Prudential Vietnam, with a 5% market share. Only Dai-ichi of Japan and ACE of the US, both relatively recent entrants, recorded APE growth, up by 7% and 11% respectively.