In 2023, Vietnamese companies reinsured only VNĐ6 trillion of domestic reinsurance premiums, while they had to transfer VNĐ22 trillion of the premiums to foreign reinsurance companies.
Prudential Vietnam Assurance Private Ltd. reported an increase of 19 per cent in total revenue in insurance premiums last year to reach over VNĐ19 trillion (US$818.3 million), retaining its position as the leading life insurer in Việt Nam.
Total insurance premiums in the first seven months of this year surged by 30.8 per cent year-on-year to VND69.5 trillion (US$2.95 billion), the Ministry of Finance reported.
Many real estate companies in HCM City have failed to pay social insurance premiums for their employees in the first half of this year, according to HCM City Social Insurance.
The insurance market has maintained a high growth rate of 21.2 per cent in 2017, gaining revenue of VND105.61 trillion (US$ 4.65 billion), a senior finance ministry official has said.