The Association of Vietnamese Insurers forecast the local insurance market to grow 20 percent this year. Non-life insurance revenues, meanwhile, rose 15 percent compared to the same period last year. Official figures showed Vietnam now has 17 insurance companies, four of which -- AIA, Bao Viet, Dai-ichi, Manulife and Prudential -- controlled more than 75 percent of the market. More than 54 percent of the reported figure came from the life insurance sector, which grew nearly 36.8 percent. Insurance companies in Vietnam reported premium revenues of more than VND38.61 trillion (US$1.7 billion) in the first six months, an increase of 25.9 percent from a year ago, local media have reported, citing the finance ministry.

Source: Thanhnien News July 21, 2016 01:18 UTC