The total assets of insurance companies in Vietnam reached almost VND 913.37 trillion (US$$37.6 billion) in the first 11 months of 2023, up 11.12 percent year-on-year, Vietnam News reported citing Vietnam’s Ministry of Finance data. It also reported that total equity of insurance firms in Vietnam was estimated to be VND 190.23 trillion (US$7.4 billion), up 7.09 percent year-on-year.
These results have rebuked recent suggestions that consumers had turned their back on the industry after allegations of insurance agents misleading consumers into purchasing policies they may not necessarily want or need, made national press earlier this year.