News Non-Life 26 Jan 2018

Vietnam:Non-life insurers see 11% rise in premiums in 2017

26 Jan 2018

The non-life insurance sector continued its sustained growth last year, posting an estimated premium revenue of VND40.5 trillion (US$1.78 billion), representing an 11% year-on-year increase.

Total assets of non-life insurance companies reached VND73.6 trillion in 2017, while VND38.8 trillion were re-invested into the economy, reported Vietnam News citing the Ministry of Finance’s Insurance Supervisory Authority.

Non-life insurers have targeted a revenue of VND44.7 trillion in 2018, total assets of VND77.3 trillion and re-investment of VND40 trillion in the economy.

According to insurers, quick payment, simplification and transparency have been of priority to customers. 

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