KUALA LUMPUR, Aug 6 (Bernama) -- Kioxia Corporation announced that the KIOXIA LC9 Series 245.76 terabyte (TB) enterprise solid-state drive (SSD) has received the FMS ‘Best of Show’ award in the ‘SSD Technology’ category.
Kioxia in a statement said these awards recognise the cutting-edge products, services, and customer implementations that are pushing the boundaries of memory and storage technology.
Utilising a 32-die stack KIOXIA BiCS FLASH generation 8 QLC 3D flash memory, KIOXIA LC9 Series drives are well-suited to generative artificial intelligence (AI) and enterprise applications.
The Awards Program Chair and Network Storage Advisors Inc President, Jay Kramer said when customers evaluate SSDs, important consideration is given to storage that scales to high capacities while delivering high performance and low power consumption.
“We are proud to recognise KIOXIA for its BiCS FLASH 3D flash memory and KIOXIA LC9 Series SSD. This solution is enabled by their CMOS directly Bonded to Array (CBA) technology and the innovation of a 32-die stacked architecture in a package – delivering the capacity, power and density required for transformational SSDs,” added Kramer.
Featuring a 32-die stack of two terabit (Tb) BiCS FLASH QLC 3D flash memory with innovative CBA technology, KIOXIA LC9 Series SSDs deliver the speed, scale, and density required to support the next wave of AI-centric workloads.
This combination of advanced memory architecture and CBA technology enables eight TB in a small 154 BGA package, and this milestone was made possible with advancements in Kioxia’s high-precision wafer processing, material design, and wire bonding technologies.
-- BERNAMA
Wednesday, August 6, 2025
KIOXIA LC9 SERIES SSD BAGS FMS ‘BEST OF SHOW’ AWARD
Jamie Lim Joins H2O.ai As Vice President Of Partnerships, APAC
KUALA LUMPUR, Aug 5 (Bernama) -- H2O.ai, the world’s leading Agentic artificial intelligence (AI) company, has appointed Jamie Lim as vice president of Partnerships for the Asia Pacific (APAC) region.
Bringing over 15 years of experience in technology partnerships and channel development, Lim most recently served as senior director of ISG Channels and partner presales for Dell Technologies in the Asia Pacific and Japan (APJ) region.
H2O.ai chief executive officer and founder, Sri Ambati said Lim has a deep understanding of the APJ’s AI and infrastructure partnerships and channel, as well as a proven ability to build robust ecosystems that thrive and scale.
“We want to raise a forest, not just a tree, and Jamie will amplify that growth with an outsized impact, strengthening our mission to democratise AI and our commitment to scale AI for Good through meaningful partnerships,” he added in a statement.
Meanwhile, Lim said she is honoured to join the company at this pivotal moment in the AI industry. Her approach has always been about working side by side with partners, supporting their success through a deep understanding of customer needs and shared outcomes.
“I look forward to bringing this perspective to H2O.ai, where we can co-create solutions and unlock new possibilities together with our partner ecosystem,” said Lim.
In her new role, Lim will be responsible for managing and building partner ecosystems across the APAC region, focusing on driving scale through trust, collaboration, and shared success.
She will strengthen H2O.ai's existing strategic partnerships with industry leaders in the region, while also expanding the company's partner network across the region to accelerate AI adoption.
Prior to joining H2O.ai, Lim held several senior leadership positions at Dell Technologies, SailPoint, Citrix, and EMC, where she consistently demonstrated her ability to build and maintain strong partner relationships and drive business growth.
-- BERNAMA
Saturday, August 2, 2025
HERE and EROAD Deepen Collaboration to Transform Trucking in Australia and New Zealand
· EROAD to launch first-ever vehicle-aware navigation application in Oceania, powered by HERE’s advanced platform and vehicle-specific data.
· Partnership addresses critical challenges in the freight sector, including safety, productivity and compliance.
AUSTRALIA, July 31 (Bernama-GLOBE NEWSWIRE) -- HERE Technologies, a global leader in digital mapping and location data, is expanding its collaboration with EROAD, a leading provider of fleet management and telematics solutions, to power EROAD’s first vehicle-aware navigation application for Oceania. The solution will be available in Australia and New Zealand and is designed to enhance driver safety, fleet efficiency and regulatory compliance. The new solution will be built on the HERE platform, leveraging advanced routing services and truck-specific data.
This deepened partnership reflects both companies’ shared commitment to delivering innovative transport solutions tailored to the needs of commercial vehicle and fleet operators globally. By combining HERE’s location intelligence with EROAD’s operational expertise, the partnership aims to improve delivery accuracy, simplify route planning, and elevate the day-to-day experience for both drivers and fleet managers.
Built for Fleets, Designed for Drivers
EROAD’s new vehicle-aware navigation application draws on key capabilities from HERE WeGo Pro, a mobile-first, professional-grade application that transforms centrally planned routes into real-time, turn-by-turn guidance. Designed specifically for commercial fleets, the new solution offers:
· Truck-specific routing that considers vehicle dimensions, cargo type and road restrictions.
· Real-time traffic updates are refreshed every five minutes across the entire road network.
· Multi-stop tour planning and predictive ETAs for SLA-compliant deliveries.
· Offline functionality for uninterrupted service in remote areas.
· Driver-centric design that reduces stress and supports retention.
“Our partnership with EROAD is critical in shaping the future of truck-specific navigation in the region,” said Deon Newman, Senior Vice President and General Manager for Asia Pacific at HERE Technologies. “With the HERE platform at its core, the vehicle-aware navigation application enables fleets to gain real-time insights, optimised truck routes, and critical alerts to prevent incidents like bridge strikes. It also helps operators remain compliant with road regulations, avoid costly fines and reduce operational risks. This level of intelligent navigation empowers fleets to operate more efficiently while enhancing safety and elevating the driver experience.”
Growing Demand in Oceania for Smarter, Connected Vehicle Technologies
The launch comes at a critical time for Australia and New Zealand’s transport and logistics sector. According to a recent report by ResearchAndMarkets.com, the installed base of fleet management systems in ANZ is projected to reach 2.7 million units by 2028¹, reflecting the growing demand for smarter, more connected vehicle technologies.
Meanwhile, the industry faces mounting pressure from a looming driver shortage. A report by The International Road Transport Union highlights that 47% of Australia’s truck drivers are over the age of 55, with more than 21% expected to retire by 2029². The country is already short nearly 28,000 heavy vehicle drivers, underscoring the urgent need for tools that can support both new and experienced drivers on the road.
“Oceania’s transport and logistics sector is under immense pressure - from driver shortages to rising delivery demands and increasingly complex compliance requirements,” said Mark Davidson, Chief Product Officer at EROAD. “With our expanded partnership with HERE, we’re equipping our customers with a solution that not only helps them navigate these challenges, but also positions them to operate more safely, efficiently, and competitively in a rapidly evolving market.”
To learn more about HERE’s truck-optimised navigation capabilities, visit https://www.here.com/products/wego-pro
Media Contacts
EROAD
Rich Llewellyn
027 523 2362
richard@shanahan.nz
HERE Technologies
Vanessa Lee
+65 9188 6199
Vanessa.lee@here.com
About EROAD
EROAD (NZX/ASX: ERD) is a hardware-enabled SaaS company delivering safety, compliance, sustainability and efficiency solutions for complex fleets.
Its connected platform is used by commercial and government operators across New Zealand, Australia and North America to manage vehicles, assets and drivers with greater visibility and control. EROAD supports demanding, highly regulated fleet operations, including those moving food, concrete and aggregates, enabling them to operate smarter, safer and more sustainably. EROAD’s platform is built on a foundation of regulatory expertise, having delivered the world’s first GPS-based road user charging system in New Zealand, where it remains the market leader today.
About HERE Technologies
HERE has been a pioneer in mapping and location technology for 40 years. Today, HERE’s location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. From autonomous driving and seamless logistics to new mobility experiences, HERE allows its partners and customers to innovate while retaining control over their data and safeguarding privacy. Find out how HERE is moving the world forward at here.com.
¹Fleet Management in Australia and New Zealand - 9th Edition
²Global Truck Driver Shortage Report 2024
Attachment
· HERE and EROAD Deepen Collaboration to Transform Trucking in Australia and New Zealand
SOURCE: HERE Europe B.V.
--BERNAMA
AUSTRALIA, July 31 (Bernama-GLOBE NEWSWIRE) -- HERE Technologies, a global leader in digital mapping and location data, is expanding its collaboration with EROAD, a leading provider of fleet management and telematics solutions, to power EROAD’s first vehicle-aware navigation application for Oceania. The solution will be available in Australia and New Zealand and is designed to enhance driver safety, fleet efficiency and regulatory compliance. The new solution will be built on the HERE platform, leveraging advanced routing services and truck-specific data.
This deepened partnership reflects both companies’ shared commitment to delivering innovative transport solutions tailored to the needs of commercial vehicle and fleet operators globally. By combining HERE’s location intelligence with EROAD’s operational expertise, the partnership aims to improve delivery accuracy, simplify route planning, and elevate the day-to-day experience for both drivers and fleet managers.
Built for Fleets, Designed for Drivers
EROAD’s new vehicle-aware navigation application draws on key capabilities from HERE WeGo Pro, a mobile-first, professional-grade application that transforms centrally planned routes into real-time, turn-by-turn guidance. Designed specifically for commercial fleets, the new solution offers:
· Truck-specific routing that considers vehicle dimensions, cargo type and road restrictions.
· Real-time traffic updates are refreshed every five minutes across the entire road network.
· Multi-stop tour planning and predictive ETAs for SLA-compliant deliveries.
· Offline functionality for uninterrupted service in remote areas.
· Driver-centric design that reduces stress and supports retention.
“Our partnership with EROAD is critical in shaping the future of truck-specific navigation in the region,” said Deon Newman, Senior Vice President and General Manager for Asia Pacific at HERE Technologies. “With the HERE platform at its core, the vehicle-aware navigation application enables fleets to gain real-time insights, optimised truck routes, and critical alerts to prevent incidents like bridge strikes. It also helps operators remain compliant with road regulations, avoid costly fines and reduce operational risks. This level of intelligent navigation empowers fleets to operate more efficiently while enhancing safety and elevating the driver experience.”
Growing Demand in Oceania for Smarter, Connected Vehicle Technologies
The launch comes at a critical time for Australia and New Zealand’s transport and logistics sector. According to a recent report by ResearchAndMarkets.com, the installed base of fleet management systems in ANZ is projected to reach 2.7 million units by 2028¹, reflecting the growing demand for smarter, more connected vehicle technologies.
Meanwhile, the industry faces mounting pressure from a looming driver shortage. A report by The International Road Transport Union highlights that 47% of Australia’s truck drivers are over the age of 55, with more than 21% expected to retire by 2029². The country is already short nearly 28,000 heavy vehicle drivers, underscoring the urgent need for tools that can support both new and experienced drivers on the road.
“Oceania’s transport and logistics sector is under immense pressure - from driver shortages to rising delivery demands and increasingly complex compliance requirements,” said Mark Davidson, Chief Product Officer at EROAD. “With our expanded partnership with HERE, we’re equipping our customers with a solution that not only helps them navigate these challenges, but also positions them to operate more safely, efficiently, and competitively in a rapidly evolving market.”
To learn more about HERE’s truck-optimised navigation capabilities, visit https://www.here.com/products/wego-pro
Media Contacts
EROAD
Rich Llewellyn
027 523 2362
richard@shanahan.nz
HERE Technologies
Vanessa Lee
+65 9188 6199
Vanessa.lee@here.com
About EROAD
EROAD (NZX/ASX: ERD) is a hardware-enabled SaaS company delivering safety, compliance, sustainability and efficiency solutions for complex fleets.
Its connected platform is used by commercial and government operators across New Zealand, Australia and North America to manage vehicles, assets and drivers with greater visibility and control. EROAD supports demanding, highly regulated fleet operations, including those moving food, concrete and aggregates, enabling them to operate smarter, safer and more sustainably. EROAD’s platform is built on a foundation of regulatory expertise, having delivered the world’s first GPS-based road user charging system in New Zealand, where it remains the market leader today.
About HERE Technologies
HERE has been a pioneer in mapping and location technology for 40 years. Today, HERE’s location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. From autonomous driving and seamless logistics to new mobility experiences, HERE allows its partners and customers to innovate while retaining control over their data and safeguarding privacy. Find out how HERE is moving the world forward at here.com.
¹Fleet Management in Australia and New Zealand - 9th Edition
²Global Truck Driver Shortage Report 2024
Attachment
· HERE and EROAD Deepen Collaboration to Transform Trucking in Australia and New Zealand
SOURCE: HERE Europe B.V.
--BERNAMA
Thursday, July 31, 2025
Axi Honoured with Five Awards by World Business Outlook Awards for 2025
SYDNEY, Aug 1 (Bernama-GLOBE NEWSWIRE) -- Axi, an industry-leading global broker, has been recognised with five awards* from the World Business Outlook Awards for 2025, marking a significant milestone in its continued growth and commitment to excellence:
Best CFD Provider Australia
Best Forex Trading Platform Australia
Best 24/7 Customer Service Provider Australia
Best Forex Broker Australia
Most User-Friendly Trading Experience Australia
“We are beyond proud and humbled to receive five awards from World Business Outlook Awards,” said Louis Cooper, CCO at Axi. “This recognition reflects and reinforces our mission to help our traders and partners gain the edge they need to stay ahead in this rapidly evolving industry. From providing the best-in-class trading platform and backing it up with top-tier customer service, we’re incredibly excited to see our efforts reaffirmed.”
The latest accolade follows a series of other notable achievements for Axi. Earlier this year, Global Business and Finance Magazine Awards recognised Axi with the ‘Best Financial Institution 2025’ award for the UK, Middle East, and LatAm markets. In 2024, the broker received widespread industry acclaim with the ‘Innovator of the Year’ award at the 2024 Dubai Forex Expo. That same year, Axi was named Best Broker (MENA), Most Trusted Broker (LatAm), Most Reliable Broker (Europe), and Best Introducing Broker Program (Asia) by Global Forex Awards.
About Axi
Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.
For more information or additional comments from Axi, please contact: mediaenquiries@axi.com
*These awards are granted to the Axi group of companies.
SOURCE: AxiTrader Limited
DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.
Best CFD Provider Australia
Best Forex Trading Platform Australia
Best 24/7 Customer Service Provider Australia
Best Forex Broker Australia
Most User-Friendly Trading Experience Australia
“We are beyond proud and humbled to receive five awards from World Business Outlook Awards,” said Louis Cooper, CCO at Axi. “This recognition reflects and reinforces our mission to help our traders and partners gain the edge they need to stay ahead in this rapidly evolving industry. From providing the best-in-class trading platform and backing it up with top-tier customer service, we’re incredibly excited to see our efforts reaffirmed.”
The latest accolade follows a series of other notable achievements for Axi. Earlier this year, Global Business and Finance Magazine Awards recognised Axi with the ‘Best Financial Institution 2025’ award for the UK, Middle East, and LatAm markets. In 2024, the broker received widespread industry acclaim with the ‘Innovator of the Year’ award at the 2024 Dubai Forex Expo. That same year, Axi was named Best Broker (MENA), Most Trusted Broker (LatAm), Most Reliable Broker (Europe), and Best Introducing Broker Program (Asia) by Global Forex Awards.
About Axi
Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.
For more information or additional comments from Axi, please contact: mediaenquiries@axi.com
*These awards are granted to the Axi group of companies.
SOURCE: AxiTrader Limited
DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.
Mavenir Completes US$1.3 Bln Recapitalisation To Strengthen Financial Position, Fuel Growth
KUALA LUMPUR, July 30 (Bernama) -- Mavenir, a cloud-native network infrastructure provider, and its existing investor, private equity firm Siris, have completed a comprehensive recapitalisation with Mavenir’s lenders.
The transaction eliminates more than US$1.3 billion of existing debt and secures US$300 million in new senior financing, along with a subordinated facility from Siris and participating lenders. (US$1=RM4.23)
Mavenir President and Chief Executive Officer, Pardeep Kohli said the recapitalisation provides a strengthened financial foundation for the company to further drive innovation for its global customer base.
“Mavenir has long been at the forefront of cloud transformation, and with this enhanced stability, we are well-positioned to continue redefining the Network of the Future with the support of Siris and our lender partners,” he said in a statement.
Meanwhile, its Executive Chair and Siris Executive Partner, Hubert de Pesquidoux said the completion of the transaction demonstrates the continued confidence and commitment of both Siris and the lenders.
“With a significantly strengthened balance sheet and Siris’ ongoing support, Mavenir is poised to accelerate its leadership in the software industry,” he added.
Siris remains the controlling owner of Mavenir and will continue its active partnership as the company advances its vision of a cloud-native, artificial intelligence-enabled network.
-- BERNAMA
Wednesday, July 30, 2025
Boomi Brings Sovereign Data Integration to Australia
New Sydney-based deployment delivers fast, secure, and compliant data movement for enterprises managing AI, analytics, and regulatory risk
SYDNEY, July 31 (Bernama-BUSINESS WIRE) -- Boomi™, the leader in AI-driven automation, today announced the local availability of Boomi Data Integration from within an Australian data centre, enabling local enterprises to move data faster, more securely, and in compliance with national regulations.
The launch comes after Boomi acquired Rivery, a modern data integration provider. This underscores Boomi’s strategic investment in local infrastructure and its commitment to solving Australia’s most pressing data challenges.
With a Sydney-based instance of Boomi Data Integration now live, Australian organisations can deploy log-based Change Data Capture (CDC) and near-real-time Extract, Load, and Transform (ELT) pipelines entirely onshore. That means sensitive data remains within national borders, latency is reduced, and there’s clear alignment with local data sovereignty laws.
“A strong addition to Boomi’s data platform alongside DataHub, Boomi Data Integration brings big data capabilities to Australian and New Zealanders, all within the same no-code/low-code experience Boomi users know and trust,” said Nikolai Blackie, Co-founder, Adaptiv, an Australasian data and integration consultancy and Boomi partner.
The launch supports regulatory requirements under the Privacy Act 1988, the Australian Privacy Principles (APPs), and sector-specific frameworks including APRA CPS 234 and the My Health Records Act. Boomi’s customers span highly regulated industries including financial services, government, education, and healthcare, all of which stand to benefit from improved compliance, confidence, and data agility.
This latest development strengthens Boomi’s unified platform strategy, which aims to bring integration, API management, data management, and AI readiness under a single layer of AI-driven intelligence. It also reduces reliance on disconnected point solutions, helping customers simplify their technology stacks and accelerate digital transformation — securely and at scale.
“AI agents, predictive models, and real-time analytics all demand one thing: trusted data, delivered quickly and securely,” said David Irecki, Chief Technology Officer for Asia Pacific and Japan at Boomi. “But in Australia, compliance is just as critical as speed, especially when you start to consider sectors like finance, government, and healthcare.”
“With local deployment of Boomi Data Integration, we’re removing any compliance barriers to AI-related to data sovereignty, while giving our partners and end-users the near-real-time data capabilities they need to innovate.”
Additional Resources
SYDNEY, July 31 (Bernama-BUSINESS WIRE) -- Boomi™, the leader in AI-driven automation, today announced the local availability of Boomi Data Integration from within an Australian data centre, enabling local enterprises to move data faster, more securely, and in compliance with national regulations.
The launch comes after Boomi acquired Rivery, a modern data integration provider. This underscores Boomi’s strategic investment in local infrastructure and its commitment to solving Australia’s most pressing data challenges.
With a Sydney-based instance of Boomi Data Integration now live, Australian organisations can deploy log-based Change Data Capture (CDC) and near-real-time Extract, Load, and Transform (ELT) pipelines entirely onshore. That means sensitive data remains within national borders, latency is reduced, and there’s clear alignment with local data sovereignty laws.
“A strong addition to Boomi’s data platform alongside DataHub, Boomi Data Integration brings big data capabilities to Australian and New Zealanders, all within the same no-code/low-code experience Boomi users know and trust,” said Nikolai Blackie, Co-founder, Adaptiv, an Australasian data and integration consultancy and Boomi partner.
The launch supports regulatory requirements under the Privacy Act 1988, the Australian Privacy Principles (APPs), and sector-specific frameworks including APRA CPS 234 and the My Health Records Act. Boomi’s customers span highly regulated industries including financial services, government, education, and healthcare, all of which stand to benefit from improved compliance, confidence, and data agility.
This latest development strengthens Boomi’s unified platform strategy, which aims to bring integration, API management, data management, and AI readiness under a single layer of AI-driven intelligence. It also reduces reliance on disconnected point solutions, helping customers simplify their technology stacks and accelerate digital transformation — securely and at scale.
“AI agents, predictive models, and real-time analytics all demand one thing: trusted data, delivered quickly and securely,” said David Irecki, Chief Technology Officer for Asia Pacific and Japan at Boomi. “But in Australia, compliance is just as critical as speed, especially when you start to consider sectors like finance, government, and healthcare.”
“With local deployment of Boomi Data Integration, we’re removing any compliance barriers to AI-related to data sovereignty, while giving our partners and end-users the near-real-time data capabilities they need to innovate.”
Additional Resources
About Boomi
Boomi, the leader in AI-driven automation, enables organizations worldwide to connect everything, automate processes, and accelerate outcomes. The Boomi Enterprise Platform — including Boomi Agentstudio — unifies integration and automation along with data, API, and AI agent management, in a single, comprehensive solution. Trusted by over 25,000 customers and supported by a network of 800+ partners, Boomi is driving agentic transformation — helping enterprises of all sizes achieve agility, efficiency, and innovation at scale. Discover more at boomi.com.
© 2025 Boomi, LP. Boomi, the ‘B’ logo, and Boomiverse are trademarks of Boomi, LP or its subsidiaries or affiliates. All rights reserved. Other names or marks may be the trademarks of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250730874823/en/
Contact
Media Contact:
Jasmine Ee
Head of Influencer Relations, APJ
pr@boomi.com
Source : Boomi
Tuesday, July 29, 2025
Best’s Market Segment Report: AM Best Maintains Stable Outlook on Vietnam’s Non-Life Insurance Segment
SINGAPORE, July 30 (Bernama-BUSINESS WIRE) -- AM Best is maintaining its stable outlook on Vietnam’s non-life insurance segment, citing structural economic advantages and robust demand that are fuelling the expansion of non-life insurance in the country.
The Best’s Market Segment Report, “Market Segment Outlook: Vietnam Non-Life Insurance,” states that the country’s core insurance segments are driving growth. The non-life segment saw a surge in gross written premiums in 2024, mainly fuelled by health and personal accident insurance owing to rising health care costs, increased awareness and the growing use of digital distribution. Continued growth in property and engineering insurance, the second-largest non-life segment after health and personal accident, also contributed to the market expansion.
This market growth has been supported by the economic and regulatory landscape, according to the report. Vietnam’s real GDP growth accelerated to 7.1% in 2024, although heightened global trade uncertainty and economic slowdowns in key partner economies may weigh on Vietnam’s export performance and affect demand for commercial insurance. “Despite expectations of moderating growth due to softening external demand, structural advantages such as Vietnam’s competitive labour costs and its extensive integration into global trade networks through numerous free trade agreements continue to support prospective insurance market growth,” said Ken Lau, senior financial analyst, AM Best.
The regulator’s efforts to improve the country’s insurance regulatory framework and oversight have contributed to the segment’s continued development. The report notes that the new decree for compulsory fire and explosion insurance is expected to improve the premium rate adequacy. In addition, the ongoing development of a risk-based capital regime, supported by quantitative impact studies and mandated in-house actuary appointments, also continues to strengthen insurers’ risk quantification and enterprise risk management capabilities.
Moderating factors to the stable outlook include constrained investment returns due to the persistent low-interest rate environment and rising reinsurance costs following an increase in claims and a reassessment of catastrophe risk following 2024’s Typhoon Yagi. “Climate risk remains a growing concern for Vietnam’s non-life insurance market, primarily amplified by the increasing frequency and severity of natural disasters like floods, storms, and typhoons,” said Chris Lim, associate director, analytics, AM Best. “Additionally, Tropical Storm Wipha, which made landfall in Northern Vietnam in July 2025, may further test reinsurers’ appetite for catastrophe risk in Vietnam in upcoming reinsurance renewals.”
To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=356105.
Lau will discuss AM Best’s stable non-life outlook in a presentation at the Vietnam Insurance Summit, to be held 1 August 2025 in Quy Nhon, Vietnam. The presentation will include topics such as insurance demand, regulatory refinements and market competition. AM Best is a diamond sponsor of the event, which will take place at the Hotel Anya Premier. To learn more about the summit, visit here.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2025 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20250729333932/en/
Contact
Ken Lau
Senior Financial Analyst
+65 6303 5025
ken.lau@ambest.com
Chris Lim
Associate Director, Analytics
+65 6303 5018
chris.lim@ambest.com
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com
Cynthia Ang
Senior Industry Research Analyst
+65 6303 5026
cynthia.ang@ambest.com
Source : AM Best
The Best’s Market Segment Report, “Market Segment Outlook: Vietnam Non-Life Insurance,” states that the country’s core insurance segments are driving growth. The non-life segment saw a surge in gross written premiums in 2024, mainly fuelled by health and personal accident insurance owing to rising health care costs, increased awareness and the growing use of digital distribution. Continued growth in property and engineering insurance, the second-largest non-life segment after health and personal accident, also contributed to the market expansion.
This market growth has been supported by the economic and regulatory landscape, according to the report. Vietnam’s real GDP growth accelerated to 7.1% in 2024, although heightened global trade uncertainty and economic slowdowns in key partner economies may weigh on Vietnam’s export performance and affect demand for commercial insurance. “Despite expectations of moderating growth due to softening external demand, structural advantages such as Vietnam’s competitive labour costs and its extensive integration into global trade networks through numerous free trade agreements continue to support prospective insurance market growth,” said Ken Lau, senior financial analyst, AM Best.
The regulator’s efforts to improve the country’s insurance regulatory framework and oversight have contributed to the segment’s continued development. The report notes that the new decree for compulsory fire and explosion insurance is expected to improve the premium rate adequacy. In addition, the ongoing development of a risk-based capital regime, supported by quantitative impact studies and mandated in-house actuary appointments, also continues to strengthen insurers’ risk quantification and enterprise risk management capabilities.
Moderating factors to the stable outlook include constrained investment returns due to the persistent low-interest rate environment and rising reinsurance costs following an increase in claims and a reassessment of catastrophe risk following 2024’s Typhoon Yagi. “Climate risk remains a growing concern for Vietnam’s non-life insurance market, primarily amplified by the increasing frequency and severity of natural disasters like floods, storms, and typhoons,” said Chris Lim, associate director, analytics, AM Best. “Additionally, Tropical Storm Wipha, which made landfall in Northern Vietnam in July 2025, may further test reinsurers’ appetite for catastrophe risk in Vietnam in upcoming reinsurance renewals.”
To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=356105.
Lau will discuss AM Best’s stable non-life outlook in a presentation at the Vietnam Insurance Summit, to be held 1 August 2025 in Quy Nhon, Vietnam. The presentation will include topics such as insurance demand, regulatory refinements and market competition. AM Best is a diamond sponsor of the event, which will take place at the Hotel Anya Premier. To learn more about the summit, visit here.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2025 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20250729333932/en/
Contact
Ken Lau
Senior Financial Analyst
+65 6303 5025
ken.lau@ambest.com
Chris Lim
Associate Director, Analytics
+65 6303 5018
chris.lim@ambest.com
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com
Cynthia Ang
Senior Industry Research Analyst
+65 6303 5026
cynthia.ang@ambest.com
Source : AM Best
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