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Vietnam insurance premium revenue goes backward for first time in years

Revenue from insurance premiums in Vietnam has fallen for the first time in 20 years, Tuoi Tre is reporting. Premiums pulled in VND 227,100 billion (US$9.35 billion), down 8.3 percent over 2022.

This is likely due to a bancassurance scandal whereby it was alleged bank staff misled customers into believing they were investing in high-interest investment products when they were actually buying insurance (See: Insurance in Vietnam: Industry Overview 2023).

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