Vietnam forecasts over 18% insurance industry growth in 2020

Vietnam's insurance industry aims to maintain a high growth rate of 18.42% in 2020, gaining revenue of VNĐ188.73 trillion ($8.1bn), according to the country's Insurance Supervisory Authority (ISA). Insurers are also targeting an increase in their total assets by 13.3% year-on-year to VND514.80 trillion, while reinvesting into the economy VND433.06 trillion, or 15.1% higher than 2019, , according to a report by Viet Nam News. To meet the targets, Phạm Thu Phương, deputy director of ISA, said the authority would continue to improve mechanisms and policies, focusing on restructuring to m...