Paying more than 23 trillion VND for insurance benefits in 10 months

20:01 | 19/11/2017 Finance Follow english.haiquanonline.com.vn on

VCN - The report of the Ministry of Finance showed that the cost of insurance benefits from the beginning of the year up to now had been quite high with more than 23.9 trillion VND.

	Insurance cooperates with bank for mutual development
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paying more than 23 trillion vnd for insurance benefits in 10 months

Insurance companies have ensured their solvency in accordance with the policies

According to the latest report of the Ministry of Finance, total premium revenue reached 84,186 billion VND. This revenue increased 20.4% compared to 2016. Of which, the non-life insurance sector's revenue was estimated at 33,006 billion VND (up 8.99%); and Life insurance 51,180 billion VND (up 32%).

Notably, by the end of October 2017, total revenue of insurance companies was estimated at 236,108 billion VND. Of which, non-life insurance companies were estimated at 36.337 billion VND; life insurance companies 199.771 billion VND.

According to statistics, in 10 months the insurance companies have paid 23,904 billion VND for insurance benefits. The Ministry of Finance assessed that insurance enterprises had ensured their solvency in accordance with policies as prescribed.

Insurers, bankers banking on each other

Touting it as a win-win deal for everyone, banks and insurance companies in Vietnam are promoting the ...

In the coming time, the Ministry of Finance will continue to develop and perfect mechanisms and policies in the insurance sector.

By Thuy Linh/ Huyen Trang

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