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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