Compulsory fire-explosion insurance to be introduced soon in Vietnam

Vietnamese Ministry of Finance is currently working on the finalization of a mandatory fire-explosion insurance. Initiated since 2015, the new regulation also provides for the regulation of agricultural insurance activity along with that of micro-insurance.

During the first ten months of 2017, Vietnamese insurance market reported a turnover of 84 186 billion VND (3.7 billion USD), up by 20.4% in comparison with the same period of 2016.

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• The insurance industry in Vietnam