Responsibilities for issuing insurance and related certificates are transferred to State Insurance Supervisory Authority and the Insurance Development Institute of Vietnam.
All processes re registering for, managing insurance certification exams centralized via the Insurance Development Institute of Vietnam's certification management system.
Foreign institutions recognized by foreign insurance regulators can now provide training and issue certificates in the insurance sector in Vietnam.
Exams
The Insurance Development Institute of Vietnam is mandated to organize exams for insurance certificates, broker certificates, and auxiliary insurance certificates, with exam locations approved by the State Insurance Supervisory Authority.
Requirements and procedures for registering re insurance certification exams are standardized, with specific deadlines and necessary documentation outlined.
State Insurance Supervisory Authority is responsible for approving and finalizing exam results for insurance certificates, broker certificates, auxiliary insurance certificates.
Domestic insurance training institutions authorized to issue insurance, broker, auxiliary insurance certificates to successful candidates based on approved exam results.
Process for approving exam venues across provinces, cities now regulated by the State Insurance Supervisory Authority, with Insurance Development Institute of Vietnam.
Insurance companies, including branches of foreign non-life insurance companies, are required to register their exam plans via centralized certification management system.
Deadlines
Existing insurance agent certificates issued before Jan. 1, 2023, will expire upon conversion to certificates under new regulation or by Jan. 1, 2026, whichever earlier.
Insurance companies or branches of foreign non-life insurance companies must submit applications to convert existing insurance agent certificates to certificates under the new regulation by Sep. 30, 2025, with specified documentation.
Consultation End
Proposed date of effectiveness not specified.
Nov. 2024 Amendments Finalized
On Nov. 29, 2024, VIE GVT issued final circular amending and supplementing provisions of cir 69/2022/TT-BTC; the provisions will be effective from Jan. 15, 2025.
Document dated Nov. 29, 2024, received from VIE GVT Dec. 5, summarized on Dec. 6.
