A Manulife building in Việt Nam. — Photo courtesy of the company

Manulife Vietnam has already paid out compensation worth VNĐ2 billion (nearly US$78,600) to the families of fire victims on Trung Kính Street in Hà Nội's Cầu Giấy District.

According to Manulife, three of their customers were victims of the fire, although one had an expired contract and the other two had a compensation benefit valued at VNĐ1 billion each.

The life insurance firm said it is processing payments and they will go to the families as soon as the funeral process is completed.

Previously, the Ministry of Finance's Insurance Supervisory Authority urged life insurance businesses to quickly resolve payments of insurance benefits (if any) for the victims of the fire that occurred on May 24 at a three-storey house in Trung Kính Street, killing 14 people and injuring six.

In September 2023, life insurance companies paid nearly VNĐ10 billion to relatives of four people who died, among a total of 56 fatalities, from a mini apartment fire in Hà Nội. The company Manulife Vietnam was responsible for payouts of nearly VNĐ5 billion to customers' relatives.

Over the first quarter, the company settled VNĐ1.8 trillion insurance claims, up 10 per cent year-on-year. — VNS