Bao Viet tops non-life insurance market

The leading non-life insurer remains Bao Viet Insurance Corporation with premiums of VND5.4 trillion (US$260 million), accounting for 23.8 per cent of the market share, followed by PetroVietnam Insurance Joint Stock Corporation in second with VND4.6 trillion ($221 million), capturing 20.4 per cent of the market share.

Bao Viet saw its growth outstrip the market's the first time, as it shot up nearly 11 per cent year-on-year. The corporation aims to emulate last year's growth and retain its proportion of the market share at around 24-25 per cent.

The insurance sector experienced a tough year in 2012, but the non-life insurance market has grown by an impressive 10 per cent, with total revenue at over VND22.7 trillion ($1.1 billion).

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