Vietnam insurance premiums H1 earnings reach $4.93b

The period dipped 1.6%.

In the first half of the year, insurance companies in Vietnam recorded a total insurance premium revenue of nearly VND117t ($4.93b), as reported by VnEconomy.

This also translated to a slight decline of 1.6% compared to the same period last year, according to data from the Ministry of Finance.

However, total insurance payouts increased by 25.11% year-on-year, reaching over VND35.7t ($1.5b).

Insurance companies also increased their investment in the economy, with a total investment of over VND725t ($30.6b), marking a growth of 14.76%.

To further develop Vietnam's insurance market, the government approved a strategy aiming to achieve an average growth in premium revenues of 15% annually in the 2021-2025 period.

ALSO READ: Hong Leong Bank, Chubb Life collaborate to offer life insurance in Vietnam

This growth is expected to contribute 3%-3.3% of the country's GDP by 2025.

The strategy also sets a target of an average growth of 10% per year in the 2026-2030 period, contributing 3.3%-3.5 % of GDP by 2030.

Also Read

Philippine life insurance sector slated for 5.4% CAGR by 2028

Property insurance industry to exceed $152b by 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit