A Military Insurance Company's employee talks to customers at its office. — Photo mic.vn

The total insurance premium revenue has been estimated at VNĐ109.1 trillion (US$4.45 billion) in the first six months of this year, a year-on-year decrease of 3.8 per cent.

The figure was revealed in data from the General Statistics Office on the socio-economic situation in the second quarter and the first six months of this year.

The revenue of non-life insurance businesses is estimated at VNĐ38.8 trillion, an increase of 11.2 per cent over the same period, while the revenue of life insurance businesses declined by 10.5 per cent, reaching VNĐ70.3 trillion.

The life insurance sector has been facing difficulties following a crisis of confidence since the beginning of last year.

In the opposite direction, insurance benefit payments were estimated at VNĐ41.3 trillion in the six months, up 6.8 per cent year-on-year.

The total insurance market assets are estimated to reach VNĐ951.8 trillion by the end of the second quarter of this year, up 9.1 per cent. — VNS