DB Insurance Acquires Third Vietnamese Insurer to Strengthen Local Market Presence

Local 9th Place BSH Signs Contract to Acquire 75% Stake in Sonbo

DB Insurance is acquiring BSH Insurance, the 9th largest non-life insurance company in the Vietnamese local market.

On the 16th, DB Insurance announced that it has signed a contract to acquire 75% of BSH Insurance's shares. Since its establishment in 2008, BSH Insurance ranked 9th among 32 non-life insurers in Vietnam with a market share of 4.5% as of last year.

This is the third time DB Insurance has acquired a Vietnamese non-life insurance company. Previously, in 2015, it acquired 37.32% of PTI Insurance, which held the 5th largest market share in Vietnam, and has since raised its market share to 3rd place. In February, it signed a contract to acquire 75% of VNI Insurance, a company ranked within the top 10.

This move reflects a continued overseas growth strategy to overcome the limitations of the domestic insurance market caused by population decline and market maturation. In particular, DB Insurance is actively targeting Vietnam considering its high economic growth, young population structure, openness to foreign markets, and accessibility to the Indochina Peninsula.

A DB Insurance official stated, "We will complete the acquisition procedures, including domestic and international approvals, at an early stage, and based on our experience in growing PTI Insurance, we will actively pursue the establishment of a stable management system and strengthening of business competitiveness."

This content was produced with the assistance of AI translation services.