On 1 July 2023, the Government officially issued the new Decree No. 46/2023/ND-CP for implementing a number of articles of the new Law on Insurance Business 2022 (“Decree No. 46”). Decree No. 46 takes effective from 1 July 2023 (except for certain clauses, which take effect from 1 January 2023) and replaces the previous Decree No. 73/2016.
Among other things, Decree No. 46 provides detailed guidelines on the licensing requirements and process for participants in the insurance market, the operation of insurance agencies, insurance brokers and insurance ancillary service providers, and supplying cross-border services.
Author
Viet Trung Nguyen
BrowsingViet Trung Nguyen is an Associate in Baker McKenzie, Hanoi office.