Business

Insurance market maintains high growth rate in Jan-Oct

Total premiums collected by Vietnam’s insurance security companies surged 20.4 percent year-on-year to 84.19 trillion VND (3.71 billion USD) in the first ten months of 2017, according to the Ministry of Finance.
Insurance market maintains high growth rate in Jan-Oct ảnh 1Worker of an insurance security agency receives customers (Photo: VNA)

Hanoi (VNA) – Totalpremiums collected by Vietnam’s insurance security companies surged 20.4percent year-on-year to 84.19 trillion VND (3.71 billion USD) in the first tenmonths of 2017, according to the Ministry of Finance.

During this period, insurance securitycompanies invested 236.11 trillion VND (10.4 billion USD) into the economy, up21.8 percent compared to the corresponding period in 2016.

Of the total, investment from lifeinsurance companies was 199.78 trillion VND and from non-life insurance oneswas 36.34 trillion VND.

Those companies also paid 23.9trillion VND (1.05 billion USD) as benefits for the insured, with 12.06 billionVND from life insurers and 11.84 billion VND from the non-life insurance sector.

The Ministry of Finance said managementof the insurance market and support for insurance security companies have beenenhanced recently, aiming to create a more transparent environment.

The ministry also plans to completedraft decrees on agricultural insurance, micro-insurance, fire insurance, andsanctions against administrative violations in insurance and lotterybusinesses.-VNA

VNA
#Vietnam #insurance market #insurance security companies #Ministry of Finance #life insurance #non-life insurance #vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

Health insurance abuse a common malaise

Health insurance abuse a common malaise

Vietnam Social Security recorded some 13,100 patients undergoing check-ups more than 50 times, with the total cost of 28.3 million USD paid by its health insurance fund, during January-October.

See more

Prime Minister Pham Minh Chinh chairs the third meeting of the steering committee for national key railway projects. (Photo: VNA)

PM urges swift, accountable implementation of key railway projects

As head of the steering committee, PM Chinh reiterated the strategic direction outlined in the 13th National Party Congress, which emphasises the need to continue three strategic breakthroughs, with priority given to railway development and starting work on several sections of the North–South high-speed railway, improving transport connectivity with economic zones, industrial parks, seaports, and airports, and accelerating the pace of urban railway projects in Hanoi and Ho Chi Minh City.

Workers produce textile and garment for export. (Illustrative photo: VNA)

Israeli firms step up sourcing from Vietnam

The conflicts have caused serious disruptions to Israel’s external supply chains, leading to greater demand for a wide range of imported goods. As a result, Israeli enterprises are intensifying efforts to diversify sources of supply, including from Vietnam, to meet domestic consumption needs.

An overview of the seminar. (Photo: VNA)

Traceability emerges as a key to sustainable digital economy

Scandals involving counterfeit goods, unsafe food and substandard pharmaceuticals not only cause economic losses but also erode public trust. On a global scale, verification and traceability are among the top criteria that businesses must maintain to ensure credibility, enhance competitiveness and meet stringent international trade standards.

Vietnamese Ambassador to Japan Pham Quang Hieu speaks at the dialogue. (Photo: VNA)

Vietnam-Japan business dialogue boosts cooperation prospects

The dialogue offered Japanese businesses an opportunity to gain the most updated insights into Vietnam’s socio-economic landscape as well as its new policies, and to exchange views on potential future collaboration in various sectors.

By June 2025, total credit had reached over 17.2 quadrillion VND (658.43 billion USD), up 9.9% from end-2024 and 19.32% year-on-year—the highest growth rate since 2023 (Photo: VNA)

Central bank rolls out measures to support economic growth

By June 2025, Vietnam's total credit had reached over 17.2 quadrillion VND (658.43 billion USD), up 9.9% from end-2024 and 19.32% year-on-year—the highest growth rate since 2023—signalling strong recovery in manufacturing, agriculture, and supporting sectors.

UOB raises Vietnam’s GDP growth forecast to 6.9% for 2025 - Illustrative image (Photo: VNA)

UOB raises Vietnam’s GDP growth forecast to 6.9% for 2025

According to a report released by UOB's Global Economics & Market Research Unit released on July 8, Vietnam’s real GDP grew by a robust 7.96% year-on-year in the second quarter of 2025, significantly exceeding Bloomberg’s forecast of 6.85%, UOB’s projection of 6.1%, and the revised growth figure of 7.05% in the first quarter.

Vietnam Airlines JSC (HVN) receives approval from the State Securities Commission of Vietnam to issue 900 million shares at 10,000 VND apiece. (Photo: VNA)

Vietnam Airlines receives approval for major share issuance

The planned issuance is expected to raise roughly 9 trillion VND (equivalent to 344.53 million USD), providing the national carrier with additional capital to improve liquidity, reinforce its financial foundation, and advance its post-pandemic recovery and growth strategy.

Passengers board a Vietnam Airlines flight (Photo: VNA)

Vietnamese aviation industry takes off

According to the Civil Aviation Authority of Vietnam (CAAV), in the first half of 2025, Vietnam's aviation industry served 41.3 million passengers, representing a 10% increase compared to the same period in 2024. Notably, the international market accounted for 23 million passengers, up by 13%, while the domestic maintained a steady 7% growth with 18.4 million passengers.