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Vietnam's insurance market up 21 percent in H1

Staff Writer |
The total premium collected by insurance companies in Vietnam in the first half of 2017 grew 21 percent year-on-year to $1.8 billion, according to the country's Ministry of Finance.

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The total asset of insurers expanded by 19 percent on-year to $11.7 billion, of which life insurers accounted for 73.4 percent, the ministry's Insurance Supervisory Authority (ISA) said on Wednesday.

According to ISA data, the insurance sector has reported an annual growth rate of over 20 percent in recent years.

However, only 7 percent of Vietnam's 93 million people have life insurance, implying great room available for further penetration, said ISA head Pham Ngoc Khanh.

In the six-month period, insurers invested some $9.6 billion in the economy, up nearly 18 percent, ISA announced.


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