Vietnam’s insurance sector expands 24.4%July 17 2018 by InsuranceAsia News Staff
Vietnam’s insurance market expanded 24.4% during January to June of this year, with insurers collecting Vnd58.6 trillion (US$2.6 billion) in premium, according to a report released by the Insurance Supervisory Agency under Vietnam’s Finance Ministry.
For 2017, total premium revenue in Vietnam hit Vnd105.6 trillion, a 21.2% rise from 2016.
The report added that assets of insurers reached Vnd337 trillion, a 27.3% increase from a year earlier.
Insurers in the country also paid a total of Vnd16.3 trillion to insurance policy beneficiaries in the six-month period, up 22.4%.
They also injected about Vnd277.4 trillion into the local economy, a 27.5% increase from the same period last year.
- April 3
The emerging economy is set to be an attractive market for at least the next three years.
- March 14
The UK-headquartered firm is growing strongly in the region.
- March 13
Samsung Life is reportedly seeking a 20% stake in Bao Viet Life.
- March 8
The prime minister wants 15% of the population to have life insurance by 2025.