Business

Bao Viet tops Vietnam insurance market

The Bao Viet Group ranked first among the insurance companies in Vietnam with a revenue of more than 9.9 trillion VND (nearly 423.7 million USD) in the first half of 2018.
Bao Viet tops Vietnam insurance market ảnh 1Illustrative image (Source: http://thoibaotaichinhvietnam.vn)

Hanoi (VNA) - The Bao Viet Group ranked first among the insurancecompanies in Vietnam with a revenue of more than 9.9 trillion VND (nearly 423.7million USD) in the first half of 2018.

According to the Vietnam Insurance Association, the firm’s revenue fromnew insurance contracts in the said period of time reached 2.42 trillion VND (105.7million USD).

The total revenue of the 18 lifeinsurance firms operating in Vietnam hit 36trillion VND (1.57 billion USD) in the first six months of this year, while theirinsurance premiums from new contracts reached 12.5 trillion VND (546.3million USD), up 128 percent and 125 percent,respectively, against the same period last year.

The top five insurance market leaders are Bao Viet, Daiichi, Prudential,Manulife and AIA.

With the positive revenue growth, representatives of many businesses areoptimistic about the development of the life insurance sector in Vietnam.

They said that Vietnamese people are becoming more aware of the role of lifeinsurance in preventing risks and protecting their lives.-VNA
VNA
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