This report differs from its predecessors in several respects. In our analysis of competitive conditions, we
provide a much more comprehensive ranking of insurance companies in the major segments from the
point of view of the organisation that is providing the data (in practice almost always the national
insurance regulator or the national insurance trade association). In Poland, for instance, the three largest
non-life companies in the first half of 2009 – in terms of Gross Written Premiums written – were PZU
SA, STU ERGO Hestia SA and TUiR WARTA SA, whose market shares were 38.9%, 10.0% and 9.4%
respectively. In the life segment, the leaders in the first half of 2009 were PZU Życie SA, ING TUnŻ SA
and TUnŻ WARTA SA, whose market shares were 28.1%, 11.1% and 9.4% respectively. Over time, we
hope to derive insights from observing how market shares change. We emphasise though, that a decline in
Vietnam Insurance Report Q1 2010

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share of Gross Written Premiums is not automatically a bad thing and is often the result of a deliberate
corporate decision to focus on more profitable business lines.
In this report, we also provide a breakdown of the insurance sector by line – from the point of view of the
regulator or the trade association. In Poland, for instance, the largest non-life lines in 2008 were
compulsory motor third party liability (CMTPL), land vehicles voluntary insurance (CASCO) and fire
and diverse risks. These accounted for 35%, 26% and 10%, respectively, of total non-life premiums. Over
time, we should be able to use this information to bring greater sophistication to our forecasting process.