General insurance company may reach the increasing of 18%

Because the original insurance revenue is expected to reach 15.000 billion VND in the first 6 months of 2015, there are many reasons for general insurance sector believes that the growth level in the next year will reach up to 17% - 18%.

General insurance company may reach the increasing of 18%

In fact, in the first half year in 2015, general insurance company remains its growth. The revenue of whole general insurance market was estimated to reach 12.268 billion VND in the first 5 months.

Most of the opinions point that there are many advantages creating positive business results of general insurance company in the first months of 2015. New regulations in Circular 194 enacted since Feb 1 2015 play roles in improving business results. For example, the new regulation about establishing branches with unlimited capital, quantity and control helps general insurance company expand its branch system, member companies and increase the revenue.

In addition, taxation regulation removes limited fees in advertisement, promotion which helps general insurance company promote customer’s promotions to increase the revenue. The regulation about branch is more open.

It is impossible to deny the efforts of general insurance company in the first quarters of 2015 when they reach the remarkable growth. However, some recommendations were given.

There are many cases in which general insurance company records the virtual revenue to meet the goal. General insurance company needs to divide the debt into less than 90 days, less than 180 days, less than 360 days to track. Over 2 year debt must be recognized as loss.

In relevance to debt, members should pay attention to divide payment period appropriately to avoid being sued.

There are more than 3 months before the end of 2015, members of general insurance sector say that they still have many issues to handle in addition to reach the growth level of 17% - 18%.