Advertisements

Random Post

Vietnam Financial News

Vietnam Business » Vietnam Financial News » Vietnam Insurance Premiums Surge 17.8% in H1

Vietnam Insurance Premiums Surge 17.8% in H1

The Bureau for Insurance Management and Supervision under the Ministry of Finance stated that non-life insurance premiums grew at a faster rate of 25.9% on-year to nearly VND8 trillion. Life insurance premiums, meanwhile, expanded 10% to over VND6 trillion, the bureau said at a seminar in Hanoi.

Insurance premiums on the Vietnamese market soared 17.8% from a year earlier to over VND14 trillion in the first six months of this year, with non-life insurance premiums making up more than a half. The total insurance compensation in the first half amounted to VND3.98 trillion, with non-life insurance payouts totaling VND2.41 trillion and life insurance payments reaching VND1.56 trillion. The bureau head Trinh Thanh Hoan predicted the markets total premiums to rise to VND29 trillion by the year-end, of which non-life revenues are expected at VND16.3 trillion and life insurance premiums the remainder. Vietnam is now home to 50 insurance companies, comprising 28 non-life companies, 11 life insurers, 10 insurance brokers and one re-insurance company. Competition among local insurers is expected to become fiercer, given future participations of some new foreign insurers later this year

Vietnam Business And Financial News Network. Source [stox.vn]

More Vietnam Financial News:

Popular Vietnam Business News

Vietcombank H1 Pretax Profit of VND2,450B Meets 75 per cent of Year's Target

The Joint Stock Bank for Foreign Trade of Vietnam (VCB) made pretax profit of VND2,450 billion in the first half this year, fulfilling 75 per cent of its yearly target,

Bank For Agricultural Of Ho Chi Minh City

These are some of the leading stories in the official Vietnamese press on Tuesday. Reuters has not verified these stories. -- Partly private Dong A Bank said it made a

PetroVietnam Asked to Rebuild Financial Plan for Dung Quat Refinery

The US$3.1-billion refinery has to date produced gasoline A92, kerosene, diesel oil, and liquefied petroleum gas (LPG) for the market. The plant had sold a total of 5,630 tons of

Sheraton set for Nha Trang market entry

The Sheraton Nha Trang, located in the central coastal city of Khanh Hoa Province, will host its soft opening on March 19 to welcome both business and leisure travellers. The

Dana - Italy Steel JSC applies for listing shares on northern bourse

Hanoi Stock Exchange (HNX) announced to receive application profile for listing 15 million shares of Dana - Italy Steel Joint Stock Co on March 19, 2010. The company with chartered

Low-income Apartment Segment Attracts Investors

While the apartment block segment has not yet seen recovery; low-cost houses are attracting speculators attention, which has helped to form a sudden price hike in realty in the west

Vietnam garment exports set to rise as industry holds line on prices

Viet Nams garment industry has a worldwide reputation for making competitively priced and high quality garments, a survey conducted by the US-based non-profit group Kearny Alliance has found.

Vienam eeal estate developers race to build skyscrapers

Thirty-seven, sixty-eight, seventy, even 102 storeys - in Hanoi and Ho Chi Minh City, bigger and bigger buildings are reshaping the skyline. Most skyscraper projects have been developed by heavyweights

Advertisement