The first press awards in the life insurance sector will be given away to honour journalists for their contributions to raising awareness about the importance of insurance both to the economy and society.

“Life Protection” was launched by the Viet Nam Insurance Association (IAV).

Than Hien Anh, vice president of the IAV and head of the organising committee, said at the launch ceremony: “Life insurance has been developed in Viet Nam for more than 20 years.

“Since its foundation, life insurance has developed rapidly, contributed much to the socio-economy and brought idle capital into the economy.

“So far the industry has created around 600,000 jobs.”

Despite 30 per cent average growth in the value of life insurance premiums in recent years, the ratio of people with insurance in Viet Nam remains a modest 8 per cent, much lower than the global average.

The awards will include the print, electronic, radio, and television categories. Each prize winner will receive a certificate of merit, a travel voucher worth VND5 million (US$220), and a voucher worth VND3 million ($132).

Stories can be in Vietnamese or English and must have been published between July last year and next June.

The list of award winners will be announced next August.

The jury comprises five members: journalist and standing vice chairman of the Viet Nam Journalists Association Ho Quang Loi; IAV vice president Than Hien Anh, IAV executive director Le Huong Ly; IAV secretary general Bui Gia Anh; and IAV Deputy Secretary Ngo Trung Dung. – VNS