Newly released data from the General Statistics Office (GSO) shows the total revenue from insurance premiums in the third quarter of 2024 was estimated at VNĐ56.4 trillion, an increase of 6.9 per cent over the same period in 2023.
Insurance premium revenue has declined for the fourth consecutive quarter. However, the rate of decrease in the first quarter of 2024 slowed compared to previous quarters.
As of the end of February, the collective assets of insurance enterprises were anticipated to hit VNĐ934.8 trillion, up 11 per cent year-on-year and 2.4 per cent compared to the end of last year.
Non-life insurance premiumin 2017 continued its sustained growth, with an estimated revenue of VND40.5 trillion (US$1.78 billion), representing an 11 per cent year-on-year increase.
The total premium collected by insurance companies in the first eight months of 2017 surged by 21.9 per cent year on year to nearly VND65.56 trillion (US$2.89 billion).