in the North before 1975, To meet the demand for insurance in foreign trade activities, on December 17, 1964, the Prime Minister took the decision to establish the insurance company Bao Viet, Vietnam. To date 15/01/1965, Vietnam officially goes into operation. This is also the only State insurance company for representing the insurance industry in Vietnam. From its founding until 1975, due to the difficult conditions of the war, operation of Vietnam in the North has not yet developed. At the time, Vietnam only have headquarters in Hanoi and Haiphong Branch made 3 business: import and export cargo insurance, hull insurance and reinsurance. After the complete liberation of the South, the insurance companies and the re-insurance of Vietnam was established to perform the responsibilities of the old company for the insured person to want to continue the contract. In 1976, when the complete unification of the State, the company was converted into a branch of the insurance company in Vietnam in Ho Chi Minh City. In this period, Vietnam is the only company in the insurance business activities in Vietnam under the regime of economic accounting system for the whole industry. The company directly under the Ministry of finance, which functions to help The uniform financial management task State insurance and direct the conduct of insurance business in the country. During this period, in Vietnam, Vietnam business monopoly of insurance should the product's not diverse, mostly made the casualty insurance business with about 20 insurance products. Since 1987, Vietnam moved to market-economy-> the Government recognized the need for the cost sharing of health san people is what viable alternatives. In October, the Government issued 8.1992 decisions about national health insurance on health insurance mandatory for private employees and the State.On 18/12/1993, Decree 100 STOCKS on the insurance business activities have been enacted, the Government opened a new development step for the insurance industry in Vietnam.Must be from after 1995, a series of new insurance business company introduction: VIETNAM, Bao Minh, PVI, PJICO ... and insurance companies such as UIC, VIA, ... In addition, with approximately 40 representative offices of foreign insurance companies and more than 70,000 insurance agents insurance market in Vietnam is developing on a vibrant.
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