HANOI, Oct. 15 (Xinhua) -- Vietnam's insurance premium revenues have recovered in the third quarter of 2024 after five consecutive quarters of decline due to a crisis of confidence, Vietnam News reported Tuesday.
The total revenue from insurance premiums in the third quarter was estimated at 56.4 trillion Vietnamese dong (2.26 billion U.S. dollars), an increase of 6.9 percent over the same period in 2023.
This was the first quarter since the second quarter of 2023 the insurance premium revenue growth recorded positive results, according to Vietnam News.
Meanwhile, the total insurance premium revenues in the first nine months of 2024 reached 165.5 trillion dong (6.6 billion dollars), still down 0.4 percent over the same period last year, said the office.
Prior to 2023, Vietnam's insurance business saw a double-digit premium revenue growth annually in approximately 10 years. However, insurance premium revenue has been on the decline since 2023, following an insurance crisis. ■
