VietNamNet Bridge – Though Vietnam is an agricultural country with 70 percent of its population living in rural areas, agriculture insurance has not developed. Phung Dac Loc, Secretary General of the Vietnam Insurance Association, talks about the issue.
Thoi Bao Kinh Te Saigon: Could you please tell us about the proportion of agriculture insurance in the non-life insurance sector in Vietnam?
Phung Dac Loc: Agriculture insurance premiums in Vietnam are inconsiderable compared with total non-life insurance premiums. The premiums in 2009 were modest at 1.7 billion dong, while total non-life insurance premiums were 13,644 billion dong. The figure was 958 million dong in the first half of 2010 vs. 8241 billion dong.