Vietnam’s insurance industry maintained positive growth in the first four months of 2019, with total premiums surging by 17 percent year-on-year to 44.3 trillion VND (1.9 billion USD), the Ministry of Finance reported.
The first corporate social responsibility programme (CSR) based on a digital platform in Vietnam’s life insurance market, the Aviva Community Fund 2019, has been officially launched in HCM City.
Bao Viet Group posted nearly 8.1 trillion VND (348.2 million) in insurance revenue in the first quarter of 2019, a year-on-year increase of 19 percent.
The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has targeted a pre-tax profit of more than 11.7 trillion VND (504.3 million USD) in 2019, representing a 10 percent year-on-year increase.
The Vietnam Social Security (VSS) reported that the number of participants in health insurance has increased to 83.6 million, or 87.7 percent of the population.
A plan approved by Prime Minister Nguyen Xuan Phuc targets that 11 percent of Vietnam’s population will have bought life insurance by 2020, and the rate will reach 15 percent by 2025.
Banks and insurance companies are ramping up cooperation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.
As many as 330 bicycles worth a total 550 million VND (23,705 USD) were presented to disadvantaged students with outstanding academic results in Vietnam’s northern region, to celebrate the upcoming Lunar New Year (Tet) holidays.
The insurance sector recorded more than 133.65 trillion VND (5.76 billion USD) in revenue from premiums in 2018, up 23.97 percent from a year earlier, according to the Ministry of Finance’s Insurance Supervisory Authority.
The life insurance industry will grow at over 25 percent this year, according to the Insurance Association of Vietnam (IAV).
The Hanoi Stock exchange (HNX) has improved its share, bond and derivatives markets considerably in 2018 and will continue to enhance the markets’ operation in 2019.
Petrolimex Insurance Corporation (PJICO), a top 5 non-life insurance company in Vietnam, has signed a cooperation agreement with the Republic of Korea’s Woori Bank.
Hyundai Marine & Fire Insurance Co Ltd (HMFI), the Republic of Korea’s No 2 non-life insurer, has signed a stock purchase agreement to buy a 25 percent stake in Vietnamese non-life insurer VietinBank Insurance Joint Stock Corp (VBI).
Businesses pledged to sponsor nearly 80 billion VND (3.43 million USD) for the National Fund for Vietnamese Children (NFVC) under agreements signed at a programme in Ho Chi Minh City on December 8 with the attendance of Vice President Dang Thi Ngoc Thinh.
The National Fund for Vietnamese Children (NFVC) and AIA Vietnam Life Insurance Company Limited on December 7 handed over 100 bikes, gifts and 20 free life insurance contracts to 120 underprivileged students in Ho Chi Minh City as part of the “Life Journey” programme.
Vice President Dang Thi Ngoc Thinh has assured Vietnam’s consistent policy of supporting Canadian firms and Manulife in particular to effectively operate in the country during a reception for visiting Chief Executive Officer & Director at Manulife Financial Corp Roy Gori in Hanoi on November 29.
Banking apps on cell phones are helping people in rural areas manage their finances, said Pham Xuan Hoe, deputy director general of the Banking Strategy Institute at the State Bank of Vietnam (SBV) at the launching ceremony of the i3 programme held in Hanoi on November 14.
Helmets and first aid kit bags were presented to high school students in Hanoi on October 15, part of a traffic safety project funded by Global Civic Sharing – a non-governmental organisation from the Republic of Korea.
