Flights were canceled, people stayed at home instead of traveling, and import/export activities became stagnant because of the pandemic. As a result, insurers experienced tough days in the first half of the year. The products sold to businesses such as aviation, tourism and cargo insurance became even more difficult to sell during the pandemic. Airlines canceled flights, travel firms stopped providing tours, and import/export activities were suspended. Other wholesale insurance products, including asset, engineering and project insurance, which does not make up a large proportion of total revenue, also saw low growth rates because of the declines in FDI capital and other types of investment. Other wholesale insurance products, including asset, engineering and project insurance, which does not make up a large proportion of total revenue, also saw low growth rates because of the declines in FDI capital and other types of investment. Thanh Lich Vietnam life insurance market sees large claim settlements made In recent years the life insurance market in Viet Nam has seen an increasing number of claim payouts. Recently Korean life insurance company, Hanwha… COVID-19 takes toll on tourism in first half The COVID-19 pandemic brought down the number of foreign visitors to Vietnam to close… Read full this story
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