CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Insurers in Vietnam see assets grow by 27% in H1
Nguyen Tung 14:45, 2018/07/16
In the remaining months of the year, the Insurance Supervisory Authority (ISA) under the Ministry of Finance (MoF) will step up efforts in restructuring the insurance market towards transparency, safety and efficiency.
In the first six months of 2018, total assets of insurance companies operating in Vietnam were reported at VND337 trillion (US$14.82 billion), up 27.33% year-on-year, according to the ISA.
 
Illustration photo.
Illustration photo.
During the January - June period, insurance companies reinvested VND277.38 trillion (US$12.2 billion) into the economy, up 27.47% year-on-year, while professional reserves jumped to VND218.3 trillion (US$9.6 billion), up 36.83%. 

Meanwhile, equity of insurers reached VND71.1 trillion (US$3.12 billion), up 27.87% year-on-year. 

The total premium collected by insurance companies in the first half of 2018 stood at VND58.6 trillion (US$2.57 billion), up 24.35% year-on-year. 

Also in this period, companies paid VND16.32 trillion (US$718 million) in insurance benefits to customers, up 22.43% year-on-year. 

ISA said it will step up efforts in restructuring the insurance market in the remaining months of the year towards transparency, safety and efficiency.

In 2018, Vietnam's insurance market revenue is set to grow 22.38% year-on-year to reach VND129.2 trillion (US$5.68 billion). 

The market's revenue in 2017 reached VND105.6 trillion (US$4.64 billion), up 21.2% year-on-year, marking the fourth consecutive year with growth rate exceeding 20%. 
Comments
Other news
18:45, 2024/11/28
Vietnam, Hesse (Germany) promote high-tech cooperation
Bilateral trade between Vietnam and Hesse has reached around EUR1 billion (US$1.05 billion) annually, accounting for one-tenth of total trade between Vietnam and Germany.
15:34, 2024/11/27
Big discounts on offer at Hanoi's November Promotion Festival
The event is part of the Hanoi Concentrated Promotion Program 2024, held in May, July, and November, attracting up to 2,000 businesses.
17:23, 2024/11/26
Hanoi unveils 150 most popular Vietnamese products and services for 2024
The "Most Popular Vietnamese Products" voting program is part of the city's broader efforts to encourage the consumption of local goods.
16:50, 2024/11/23
Hanoi hosts the Vietnam Regional Specialties Fair 2024
This year's fair will contribute to the promotion of trade and the expansion of typical regional products, especially agricultural and food products that meet export standards.
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.