Vietnam's insurance sales see six-year high growth: data

Thanh Nien News

Email Print


Insurance companies in Vietnam reported premium revenues of more than VND38.61 trillion (US$1.7 billion) in the first six months, an increase of 25.9 percent from a year ago, local media have reported, citing the finance ministry.
It was the highest rise since 2011, news website Saigon Times Online said on Wednesday.
More than 54 percent of the reported figure came from the life insurance sector, which grew nearly 36.8 percent. Non-life insurance revenues, meanwhile, rose 15 percent compared to the same period last year.
Official figures showed Vietnam now has 17 insurance companies, four of which -- AIA, Bao Viet, Dai-ichi, Manulife and Prudential -- controlled more than 75 percent of the market.
The Association of Vietnamese Insurers forecast the local insurance market to grow 20 percent this year.

More Business News