Insurance market maintains high growth rate in Jan-Oct
Total premiums collected by Vietnam’s insurance security companies surged 20.4 percent year-on-year to 84.19 trillion VND (3.71 billion USD) in the first ten months of 2017, according to the Ministry of Finance.
Worker of an insurance security agency receives customers (Photo: VNA)
Hanoi (VNA) – Totalpremiums collected by Vietnam’s insurance security companies surged 20.4percent year-on-year to 84.19 trillion VND (3.71 billion USD) in the first tenmonths of 2017, according to the Ministry of Finance.
During this period, insurance securitycompanies invested 236.11 trillion VND (10.4 billion USD) into the economy, up21.8 percent compared to the corresponding period in 2016.
Of the total, investment from lifeinsurance companies was 199.78 trillion VND and from non-life insurance oneswas 36.34 trillion VND.
Those companies also paid 23.9trillion VND (1.05 billion USD) as benefits for the insured, with 12.06 billionVND from life insurers and 11.84 billion VND from the non-life insurance sector.
The Ministry of Finance said managementof the insurance market and support for insurance security companies have beenenhanced recently, aiming to create a more transparent environment.
𝐆 The ministry also plans to completedraft decrees on agricultural insurance, micro-insurance, fire insurance, andsanctions against administrative violations in insurance and lotterybusinesses.-VNA
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Worker of an insurance security agency receives customers (Photo: VNA) 
