Vietnam’s insurance market has had a positive 2022 despite the difficulties and challenges.

The latest report from the Ministry of Finance shows that the country’s insurance market had 70 insurance companies as of December 22, with total assets of over VND811.3 trillion ($34 billion), a year-on-year rise of 14.51 per cent.

The total assets of non-life insurance companies are estimated at over VND117.2 trillion ($4.9 billion) and of life insurance companies an estimated VND694 trillion ($29.1 billion).

Total market premium revenue in the period is estimated at VND251.3 trillion ($10.5 billion), up 15.09 per cent year-on-year.

Insurers made payouts totaling VND64 trillion ($2.68 billion), a year-on-year increase of 23.29 per cent.