Insurance in Vietnam

Baker McKenzie

Baker McKenzie has a market-leading reputation in the insurance sector, owing to its ability to handle a full range of legal, transactional and regulatory matters for domestic and international insurers, intermediaries and regulatory authorities. Heading up the practice is Oanh Nguyen, who is prominent in landmark corporate and capital markets transactions involving the insurance market. Special counsel Thanh Hai Nguyen has extensive expertise in obtaining approvals for insurance products, insurance claims and outsourcing, among a myriad of matters. Chi Lieu Dang joined DNA Vietnam LLC.

Practice head(s):

Oanh Nguyen

Other key lawyers:

Thanh Hai Nguyen; Linh Chi Dang

Frasers Law Company

Frasers Law Company's growing practice handles matters such as insurance-related M&A, restructurings and insurance claims, as well as regulatory compliance work. It also assists with insurance issues associated with financing major energy projects. The practice is led by founding partner Mark Fraser, who has acted on a significant number of insurance-related mandates since he moved to Vietnam in 1995. Under his leadership, the firm is increasingly active in advising foreign insurance companies on establishing operations in Vietnam. Fraser works with senior associates Phung Thi Thanh Thao and Duong Thi Mai Huong.

Practice head(s):

Mark Fraser

Testimonials

‘Knowledgeable on insurance issues. Probably the leading firm in Vietnam with particular expertise in this area.’

‘Mark Fraser is responsive and easy to work with. Quickly understands the key issues.’

‘Fraser Law Company provides high quality legal services which help my company to achieve our goals in M&A transactions. This firm provides a comprehensive legal strategy and can lead legal negotiations to meet the expectation of all parties. ’

Vina Legal

Vina Legal is a strong choice for advice on insurance claims, bancassurance agreements between banks and insurance companies, and insurance M&A. Also notable is that it assists insurance companies with legal issues associated with the use of new technologies to deliver insurance products. Duong Quang Long is the main contact.

Practice head(s):

Duong Quang Long

Testimonials

‘Provides a wide range of legal services with very high quality. They respond to us very actively and in a timely manner. They also use technical experts in different fields effectively to make the services very helpful. The billing system of this firm is quite modern and useful.’

‘The leader in this firm (Mr. Duong Quang Long) is an outstanding leader and lawyer. He is able to provide outstanding advice in complicated transactions or matters which require knowledge in many fields.’

‘I feel comfortable in discussions with them.’

‘The staff of Vina Legal are very talented and dedicated. They always provide practical and comprehensive solutions to our matters.’

Mr. Duong Quang Long (the Managing Partner) helps us understand the situation very well and leads the team to provide excellent services. He knows both Vietnamese and international laws very well.

Key clients

Bao Viet Holdings

Bao Viet Insurance

Vietinbank Insurance Corporation

Post and Telecommunications Insurance JSC

Thai Insurance Public

China Taiping Life Insurance (Hong Kong) Company Limited

Fubon Insurance

Vinh Tan 1 Power Company (China)

Sunshine Group

Vietnam National Textile and Garment Corporation

Techcombank

Cuu Long Infrastructure Development and Project Management Corporation

Power Consulting Joint-Stock Coompany

Hung Thinh Land Group

Truong Son Construction Corporation

Work highlights

  • Advised CJ Foods on a claim for compensation from insurance companies over a very large fire that had taken place in a food factory in Ho Chi Minh City.
  • Advised National Power Transmission Corporation on a claim for compensation from insurance companies over damage to high-value power transmission stations caused by lightning.
  • Advised Bao Viet Holdings on the sale of new shares to a strategic shareholder.

Tilleke & Gibbins

Tilleke & Gibbins has a regional insurance and reinsurance law practice, which is led out of the Bangkok office by Athistha Chitranukroh. The main contact in Vietnam is Vinh Quoc Nguyen, who is based in Ho Chi Minh City. The firm advises insurance companies on the development of new insurance products, insurance coverage disputes, professional indemnity, insurance authorisation and licensing, M&A and restructurings, among various other matters.

Practice head(s):

Athistha Chitranukroh

Other key lawyers:

Vinh Quoc Nguyen

Key clients

AIG

Marsh & McLennan Group

Work highlights

  • Advising the Marsh & McLennan Group on a full range of legal matters in Southeast Asia.
  • Advising a Chineses electronics company on regulatory compliance and licensing concerns of its planned smart phone extended warranty services in Thailand and Vietnam.
  • Advised a French insurance company, on distributing insurance and reinsurance contracts in relation to weather index-based insurance, a new product in Vietnam.

Vision & Associates

Vision & Associates' team, which comprises of a mix of Vietnamese and internationally-qualified lawyers, has a strong profile among insurance companies. It advises clients on setting up businesses in Vietnam, policy reviews and contractual matters. It is also knowledgeable about the regulatory aspects of general insurance, life insurance and statutory insurance. Luu Tien Ngoc and Dang Trong Hieu co-head the practice.

Practice head(s):

Luu Tien NgocDang Trong Hieu

Key clients

AIG Asia Pacific Pte., Ltd.

QBE Insurance (Vietnam)

Asia Capital Reinsurance Group Pte Ltd

International Planning Group

Union Insurance Company

Bank For Investment And Development Of Vietnam Insurance Joint Stock Corporation

Petrolimex Insurance Joint Stock Company

PVI Re-insurance Jsc

Work highlights

  • Provided legal advice for PVI RE on some conditions of joint stock insurance companies under current provisions of law.
  • Advised AIG on data protection issues.