Life insurers bank on developing industry 22:06 | 03/06/2021
Life insurers are anticipating a rising middle-class population. Photo: Dung Minh
Fresh data from the Vietnam Insurance Association (VIA) revealed that in the first quarter of 2021, the total insurance premium revenue reached more than VND14.9 trillion ($6.5 billion), up 6 per cent over the same period of last year. In terms of non-life insurance, reinsurance firm Swiss Re forecasted that this sector will reach a value of about VND70 trillion ($3.04 billion) in 2021, up 25 per cent compared to 2020.
Yen Tran, analyst at KIS Securities commented on trends that have been prevalent for a couple of years. âThe overall insurance penetration rate in Vietnam in 2019 was 60 basis points below the average rate in emerging markets and a distance from the 9.6 per cent in advanced markets,â Tran said. âAverage insurance spending per capita was around $72 in Vietnam in 2019 versus an a
Philanthropist and entrepreneur Eli Broad, who contributed millions of dollars to Michigan State University, died Friday at age 87, representatives announced.
Since 1999, Broad, who founded two Fortune 500 companies in different industries, and his wife, Edythe, had committed more than $5 billion with their foundations to support K-12 public education, scientific and medical research, and the visual and performing arts.
In 2014, Broad and his wife gave MSU a $25 million challenge grant to broaden the scope of the Eli Broad College of Business.
The gift brought the Detroit Public Schools alumni s total giving to MSU to nearly $100 million. As a businessman Eli saw around corners, as a philanthropist he saw the problems in the world and tried to fix them, as a citizen he saw the possibility in our shared community, and as a husband, father and friend he saw the potential in each of us,” said Gerun Riley, president of The Eli and Edythe Broad Foundation.