Minimum charter capital of an insurance enterprise in Vietnam

Minimum charter capital of an insurance enterprise in Vietnam

The minimum charter capital of an insurance enterprise in specific cases in Vietnam is as follows:

- Minimum charter capital of life insurers:

+ Life insurance business (except unit-linked insurance, retirement insurance) and health insurance: VND 750 billion;

+ Insurance business as prescribed at Point a of this Clause and unit-linked insurance or retirement insurance:  VND 1,000 billion;

+ Insurance business as prescribed at Point a of this Clause, unit-linked insurance, or retirement insurance:  VND 1,300 billion.

- Minimum charter capital of non-life insurers:

+ Non-life insurance business (except aviation insurance, satellite insurance) and health insurance: VND 400 billion;

+ Insurance business as prescribed at Point a of this Clause and aviation insurance and satellite insurance: VND 450 billion;

+ Insurance business as prescribed at Point a of this Clause, aviation insurance and satellite insurance: VND 500 billion.

- Minimum charter capital of health insurers: VND 400 billion.

- Minimum charter capital of reinsurers:

+ Reinsurance business, non-life reinsurance, or both non-life reinsurance and health reinsurance: VND 500 billion;

+ Reinsurance business, life reinsurance, or both life reinsurance and health reinsurance: VND 900 billion;

+ Reinsurance business, all life reinsurance, non-life insurance, and health reinsurance: VND 1,400 billion.

Note: If insurers and reinsurers which are established, organized, and operating before 01/7/2023 have a charter capital lower than the minimum charter capital as prescribed they must, before January 1, 2028, top up their charter capital to the required minimum level and put down a deposit as prescribed.

Decree 46/2023/ND-CP takes effect as of July 1, 2023.

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