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The Insurance Association of Vietnam said that the local insurance industry's premiums grew 19% year on year to 38.7 trillion Vietnamese dong ($1.7 billion) in the first five months of the year, Asia Insurance Review reported citing Vietnam News Agency. Nonlife premiums grew 9% to nearly VND 16 trillion. Total insurance claim and benefit payments totaled nearly VND 11 trillion, of which nonlife insurers paid VND 5.4 trillion.
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