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 The annual general meetings of many insurance companies made the decision to reduce their financial activities to hit revenue target, some even fell by 30 percent.
| The domestic insurance market maintained the growth pace for 2012 yet
the rate experienced a slight decline as compared to previous years,
said the Ministry of Finance. |  The insurance market will continue to expand this year, with total premiums expected to reach 46 trillion dong (US$2.2 billion), up 24 per cent from last year, says a recent report from A.M. Best, a credit rating agency covering the insurance industry. |  In the first quarter of 2012, the business results of Bank for Investment and Development of Vietnam (BIDV) Insurance Joint Stock Corp (BIC) posted a satisfactory growth in comparison with the same period of lat year with profit growth of about 15.26 percent. | The cumbersome organisation of State-owned insurance enterprises has driven up bad debt levels in the industry, while unfair competition within the segment has lowered premiums and negatively affected the performance of companies in the sector, said the Director of the Ministry of Finance's insurance supervisory department, Trinh Thanh Hoan, at a meeting in Ha Noi last Friday.
| Others:- Vietnam insurance market to be restructured
Vietnam insurance market to be restructured Ministry of Finance is building criteria for appraising and classifying insurance companies into four groups, and will apply measures to manage and supervise each group, the Saigon Economic Times reported.
- No market has fire insurance cover
No market has fire insurance cover Scarcely any Vietnamese markets are covered by fire insurance because insurance firms are discouraged by their high risk of fire, while the amount of assets is difficult to inventory, said Phung Dac Loc, secretary general of the Vietnam Insurance Association.
- Bright outlook for insurance market
Bright outlook for insurance marketThe Viet Nam insurance market is expected to continue its 2011 growth rate, with an estimated 19-21 per cent year-on-year increase in 2012, according to an industry official.
- Insurance Market Poised For Further Growth
Insurance Market Poised For Further GrowthThe insurance market in Vietnam has more potential for growth, both in the life and non-life sectors
- Insurance sector gets new rules
Insurance sector gets new rules The Law on Insurance Business was passed by the National Assembly in
December 2000 and took effect on April 1, 2001. For the past 10 years,
the law has created favourable conditions for the growth and
international integration of the Vietnamese insurance industry and
established a legal framework to regulate and prevent unfair competition
in the insurance field. - VN: One of fastest growing insurance markets
VN: One of fastest growing insurance markets
With limited insurance penetration and huge growth potential, the insurance market in Việt Nam is one of the fastest growing insurance markets in the world, said the Research and Market - Non-life insurance earnings jump
Non-life insurance earnings jump
Non-life insurance premiums totalled nearly VND3.25 trillion (US$154.7 million) in the first two months of the year, an increase of 29.7 per cent over the same period in 2010, according to the Insurance Supervisory Authority of the Ministry of Finance.
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