11M insurance premium revenue estimated at $8 bln

Insurance companies in Vietnam posted total premium revenue of more than VND204 trillion (over $8 billion) in the first 11 months of the year, a year-on-year increase of 6.63%, figures from the Ministry of Finance show.

Of the total, life insurance premium turnover is estimated to reach more than VND132.2 trillion ($5.18 billion), down 5.5% year-on-year, and non-life insurance premium revenue amounted to over VND71.9 trillion ($2.83 billion), up 13.02% year-on-year.

Total insurance payouts stood at over VND86.36 trillion ($3.38 billion) by the end of November, surging 17.13% compared to the same period last year.

Some 85 insurance companies, including 31 non-life insurance firms, are operating in Vietnam now.