Insurance sector looks at rosy prospects in 2018The insurance sector is set to reach a 22 per cent growth rate in premium volume in 2018. According to ISA, in 2018 the sector aims to count VND129.246 trillion in premium value, up 22.3 per cent on-year, as well as report VND370.818 trillion in total asset value and reinvest VND305.497 trillion in the economy. According to Deputy Minister of Finance Tran Xuan Ha, as the economy is forecast to remain stable in the upcoming year, the insurance sector needs to scale up efforts to maintain the higher than 20 per cent growth next year. For instance, according to Vietnam National Aviation Insurance Corporation (VNI), this year, VNI achieved more than 36 per cent growth in premium value, posting a 63 per cent jump in non-aviation insurance services and a 173 per cent jump in bancassurance services. Its member units, such as VNI Thang Long and VNI Long An, have reached their full-year business targets by mid-November.

Source: VietNamNet News December 28, 2017 06:00 UTC