Vietnam insurance market up in first half of 2017
Thursday, 09:59, 20/07/2017
VOV.VN - The total assets of insurers expanded by 19% year-on-year to US$11.7 billion, of which life insurers accounted for 73.4%, the Ministry of Finance said on Wednesday (July 19).
According to data of the Ministry Insurance Supervisory Authority, the insurance segment has reported an average annual growth rate approximating 20% over recent years.
However, only 7% of the country’s 93 million population have life insurance, ISA head Pham Ngoc Khanh said, implying there is great room for further expansion of the insurance market.
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