HCMC – Total insurance losses caused by powerful storms Bualoi and Matmo have been estimated at more than VND1.67 trillion, according to the Insurance Supervision and Management Department under the Ministry of Finance.
As of October 10, all 32 non-life insurance companies and 19 life insurance companies nationwide had submitted reports on the damage, the department said, citing data from the Vietnam News Agency.
Seven cases involving human casualties were reported, with estimated insurance payouts totaling VND745 million. There were 3,746 non-life insurance claims related to property and other coverage categories, with total losses estimated at nearly VND1.67 trillion. Among these, two health insurance cases accounted for VND245 million, 1,081 property and engineering insurance cases totaled around VND1.59 trillion, and 2,653 motor vehicle insurance cases incurred losses of over VND76 billion.
Other insurance categories, including marine hull and agricultural insurance, recorded 12 cases with estimated losses of over VND4.7 billion.
Life insurance companies reported five cases involving death or injury, with estimated payouts totaling VND480 million.
The Insurance Supervision and Management Department noted that most reported losses stemmed from property and engineering insurance, as well as motor vehicle coverage. Insurers are continuing to process and verify claims related to the recent storms.
