Insurance companies and their agents face stricter scrutiny as a number of Government decisions designed to regulate agents’ qualifications are set to take effect in November.
Việt Nam’s insurance industry maintained positive growth in the first quarter of this year, with total premiums surging by 17 per cent year-on-year, according to reports from the General Statistics Office.
Việt Nam’s insurance industry achieved high on-year growth of 24.35 per cent in the first half of 2018, helping total revenue to reach more than VNĐ58.65 trillion (US$2.55 billion).
The participation of foreign investors in Việt Nam’s insurance market will develop the market while enriching domestic insurers with experience and governance.
Non-life insurance premiumin 2017 continued its sustained growth, with an estimated revenue of VNĐ40.5 trillion (US$1.78 billion), representing an 11 per cent year-on-year increase.