Report of the general Statistical Office (GSO) showed that the insurance market in the first three quarters of 2019 maintained positive growth. The insurance revenue of the entire market in the first quarter (Q1) 2019 was estimated to rise by 17 percent compared to the same period of 2018, in which life-insurance revenue growth is 23 percent and non-life insurance revenue growth is nine percent.
Previously, GSO’s report once stated that as of December 20th 2018, the total means of payment increased by 11.34 percent over the end of 2017 (up by 14.19 percent over the same period of 2017). The mobilisation of credit institutions grew by 11.56 percent (up by 14.5 percent over the same period of 2017), and the credit of the economy grew by 13.3 percent compared to the end of 2017 (up by 16.96 percent compared to the same period of 2019).
The insurance business activities in Q4 2018 continued to record high growth of about 22 percent over the same period of 2017, in which life-insurance revenue increased by 26 percent, and non-life insurance revenue increased by 13 percent.
The insurance revenue in 2018 reached 133.7 trillion dong, up by 24 percent compared to the same period of 2017, in which non-life insurance revenue was 88 trillion dong, up by 32.8 percent; and life-insurance revenue was 45.7 trillion dong, up by 9.9 percent.
