Insurance sector posts 24-percent rise in revenue
Saturday, 19/01/2019 15:10 (GMT+7)
The insurance sector recorded more than VND133.65 trillion (USD5.76 billion) in revenue from premiums in 2018, up 23.97 percent from a year earlier, according to the Ministry of Finance’s Insurance Supervisory Authority.
Of the figure, non-life insurance companies earned VND45.69 trillion while life insurance ones gained VND87.96 trillion.
The insurance sector earned over VND133.65 trillion (USD5.76 billion) in revenue from premiums in 2018 (Photo: Bao Viet insurance company)
The insurance sector added some VND319.61 trillion into the economy in 2018, up 29.53 percent year on year.
There are 64 insurance businesses in Vietnam at present, including 30 non-life insurance companies, 18 life insurance companies, two reinsurance companies, 14 insurance intermediary companies and one branch of a foreign non-life insurance firm.
The Insurance Supervisory Authority said in 2019, the Finance Ministry will continue perfecting draft revisions to the Law on Insurance Business to promote transparency, safety and efficiency of the insurance market, align domestic insurance activities with international practices, and meet insurance demand of all economic sectors and people./.
CPV/VNA
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