Tuesday, December 12, 2017

Vietnam’s market keeps positive growth

Vietnam’s insurance market maintained its positive growth in the first nine months of this year, according to the country’s General Statistics Office.

In a report, the GSO said total premiums for the whole market in the January-September period were estimated to have increased 18% year-on-year, with premiums in the life insurance sector growing by more than 22%.

Overall, the GSO said Vietnam’s banking, financial services, and insurance (BFSI) industry expanded 7.89% in the first nine months of this year, the highest level recorded in recent years.

The growth rate of the industry was 6.99% in 2011 but has been on a decline until this year, the GSO reported.

Total money supply in Vietnam as of 20 September increased 9.59% compared with the end of 2016 and rose 11.76% year-on-year.

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