Volatile stock market puts brakes on life insurance development

Life insurance premiums increased by 12% last year, still below the rate of inflation and against growth of 34% in non-life

Since joining the World Trade Organisation last year, the Vietnamese economy has been confronted with many challenges. WTO membership stimulated large inflow of outside capital and soaring trade deficit and this put pressure on domestic resource prices as well as wage rates. Inflation started to rise well before the price of oil and other raw materials started to soar.