The Vietnamese insurance market is gradually experiencing a positive recovery, with total premium revenue showing growth again.

PVI Insurance continues to shine in prestigious awards, affirming its position as a market leader in Vietnam's non-life insurance sector as well as standing alongside major companies in the region.

PVI Insurance Corporation (PVI Insurance) proudly achieved remarkable recognition on June 7, as the sole insurance enterprise in Vietnam honoured in the prestigious "International Finance Insurance Awards" by the United Kingdom's International Finance Magazine (IFM).

It is critical to improve the quality of insurance agents and consultants to consolidate trust of insurance buyers and bring the life insurance market back on track, experts have said.

Accelerating the digital transformation process not only helps insurance businesses transform during the COVID-19 pandemic but also is considered the foundation for growth in the economic recovery.

Vietnam’s insurance market is expected to achieve a growth rate of more than 20 percent this year, according to Vietnam Report (VNR).

Total premiums collected by Vietnam’s insurance security companies surged 20.4 percent year-on-year to 84.19 trillion VND (3.71 billion USD) in the first ten months of 2017, according to the Ministry of Finance.

The insurance sector reported growth of 19 percent in premium income in the first five months of this year, topping 38.7 trillion VND (1.7 billion USD), the Insurance Association of Vietnam said.

PVI Holdings continued to maintain its top position in the field of non-life insurance with revenue hitting 4.17 trillion VND (187.65 million USD) in the first half of 2016.