Vietnam’s Insurance Market Grows 21% in Jan-Jun

Tuan Minh

17:08 16/07/2017

BizLIVE - The fast-growing insurance market has prompted a number of foreign companies to step up their presence in Vietnam.

Vietnam’s Insurance Market Grows 21% in Jan-Jun

Vietnam's rapidly-growing insurance market is attractive to foreign insurers. Photo: Internet

Total premiums collected by insurance companies in Vietnam reached 47.17 trillion dong ($2.07 billion) in the first half of this year, representing an increase of 20.77% from a year earlier, according to the Insurance Supervisory Authority under the Ministry of Finance.
Of the sum, non-life premiums were 19.34 trillion dong ($852 million) and life insurance premiums stood at 27.83 trillion dong ($1.22 billion).
Their total assets grew 19.11% year-on-year to 264.64 trillion dong ($11.66 billion), of which life insurers accounted for 73.4%.
Notably, insurance companies invested 217.59 trillion dong ($9.6 billion) backed into the economy, rising 17.88% year-on-year.
Life insurers have purchased 15 trillion dong ($661 million) worth of government bonds having terms of 15 to 30 years.
Due to the fast growth of the insurance market, a number of foreign companies such as the UK’s Aviva Plc and Canada’s Sun Life have stepped up their presence in Vietnam through mergers and acquisition or joint ventures.


Từ khóa: Aviva, Vietnam

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