Health insurance accounted for the largest proportion (33.2%) of non-life insurance premium revenue in Vietnam last year.
Health insurance premiums jumped by 24.3% to VND22.4tn ($955m), compared to 2021, reported vneconomy.vn citing preliminary data received by the authorities.
Together, the five branches contributed over 90% of total non-life premiums in 2022.
Total insurance premium revenue in Vietnam in 2022 is estimated at VND245.9tn ($10.5bn), an increase of about 15% compared to 2021.
Of the total, non-life insurance premium revenue is estimated at VND67.6tn, 8% compared to 2021, while that of the life insurance sector is estimated at VND178.3tn, an increase of 11.8% compared to 2021.
New life insurance premiums reached VND50.7tn in 2022, an increase of about 2.4% compared to 2021.
Health insurance products of life insurers also showed good growth, with premium revenue reaching over VND642bn in 2022, increasing by 15.4% over 2021.
